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6. Schedule control
involves controlling and managing changes to the project
schedule. Outputs include performance measurements, requested changes,
recommended corrective actions, and updates to the schedule model data, the
schedule baseline, organizational process assets, the activity list and attributes,
and the project management plan.
2.9
PROJECT COST MANAGEMENT
Project cost management includes the processes required to ensure that a project
team completes a project within an approved budget.
There are three project cost
management processes:
1. Cost estimating
involves developing an approximation or estimate of the cost of
the resources needed to complete a project. The main outputs of the cost
estimating process are activity cost estimates and supporting detail, requested
changes, and updates to the cost management plan.
2. Cost budgeting
involves allocating the overall cost estimate to individual work
items to establish a baseline for measuring performance. The main outputs of the
cost budgeting process are cost baseline, project funding requirements, requested
changes and updates to the cost management plan.
3. Cost control involves controlling changes to the project budget. The main
outputs of the cost control process are performance measurements,
forecasted
completion information, requested changes, recommended corrective action, and
updates to the project management plan (includes the cost management plan),
cost estimate, cost baseline, and organizational process asset.
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