Cost Management is a really important one among all the project management knowledge areas. There are several activities in a project, several project resources work on project activities and several materials, tool and equipment are used to complete the project scope. All these require a budget to be allocated. Because you need to purchase tools, […]
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Project Plan Example – Sample Real-Life Project Plan
Are you planning to create a project plan? What does a good project plan look like? How could I create one? Where should I start to create a plan for your project? For a successful project, a great project plan is essential. In this article, we will go through the key steps to write a […]
2 Concepts Of Cost Management: Value Engineering & Life Cycle Costing
As defined in PMI Certification training, Cost Management is all about defining the necessary budget for executing the project. Its objective is to monitor and control the project costs to match the approved budget. So that’s why life cycle costing and value engineering are two important concepts in cost management. Attend our 100% Online & Self-Paced […]
49 Project Management Processes – 100% Full List
Project management is a complex and interdisciplinary field. To complete a project successfully, you must complete it on time, on budget and meeting the agreed quality level. To achieve this, you must use project management processes. There are different project management frameworks such as PMP, Prince2, IPMA etc. The most reputable project management framework is […]
6 Items to Include in Cost Management Plan
Cost Management is one of the 10 project management knowledge areas and it involves necessary processes to finish the project within the approved budget. Its aim is described in PMP courses as “to define the necessary budget to execute the project and its aim is to monitor and control the project costs to match the approved […]