Project Cost Management-budgeting

Budgeting isSummaryEstimated costs for all individual activities or work packages,CreateOne approvedCost referenceOfProcess.

Cost benchmark includes allApprovedBut does not include management reserves.

Input:

1. Activity Cost Estimation: Calculated from the Activity Cost Estimation in the Work Package.
2. Estimation Basis: Support details
3. Scope reference: Scope statement, work breakdown structure, and work breakdown structure dictionary
4. Project progress plan
5. Resource calendar
6. Contract
7. Organizational Process assets

Tools and technologies

1. Cost Summary
2. Reserve analysis: the emergency reserve and management reserve are calculated through the reserve analysis.
3. Expert judgment
4. Historical Relationship: use historical data to establish mathematical model prediction
5. Balance of capital restrictions

Output

1. Cost Performance Benchmark
2. Project funding requirements
3. Project File (update)