7 Project Cost Management (Input, Tools & Techniques, Outputs)

Question 1

7.1 Plan Cost Management

Answer 1

• Input*
  1. Project Charter
  2. Project management plan
  3. Enterprise environmental factors
  4. Organizational process assets
• Tools & Techniques*
  1. Expert judgement
  2. Data analysis
  3. Meetings
• Output*
  1. Cost management plan

Question 2

7.2 Estimate Costs

Answer 2

• Input*
  1. Project management plan
  2. Project documents
  3. Enterprise environmental factors
  4. Organizational process assets
• Tools & Techniques*
  1. Expert judgment
  2. Analogous estimating
  3. Parametric estimating
  4. Bottom-up estimating
  5. Three-point estimating
  6. Data analysis
  7. Project management information system
  8. Decision making
• Output*
  1. Cost estimates
  2. Basis of estimates
  3. Project documents updates

Question 3

7.3 Determine Budget

Answer 3

• Input*
  1. Project management plan
  2. Project documents
  3. Business documents
  4. Agreements
  5. Enterprise environmental factors
  6. Organizational process assets
• Tools & Techniques*
  1. Expert judgment
  2. Cost aggregating
  3. Data analysis
  4. Historical information review
  5. Funding limit reconciliation
  6. Financing
• Output*
  1. Cost baseline
  2. Project funding requirements
  3. Project documents updates

Question 4

7.4 Control Costs

Answer 4

• Input*
  1. Project management plan
  2. Project documents
  3. Project funding requirements
  4. Work performance data
  4. Organizational process assets
• Tools & Techniques*
  1. Expert judgment
  2. Data analysis
  3. To-complete performance index
  4. Project management information system
• Output*
  1. Work performance information
  2. Cost forecasts
  3. Change requests
  4. Project management plan
  5. Project documents updates