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Project Estimating and Cost Management
Name: Project Estimating and Cost Management
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Project Estimating and Cost Management (Project Management Essential Library ) [Parvis F. Rad] on inabenbe.site *FREE* shipping on qualifying offers. Cost estimating is the practice of forecasting the cost of completing a project with a defined scope. It is the primary element of project cost management, a knowledge area that involves planning, monitoring, and controlling a project's monetary costs.
(Project cost management has been practiced since the s.). In the construction industry, a cost plan is used as a way of controlling the estimated costs during the design and construction phases of a project. That means that cost plans are living artefacts, just like project management plans. They must be managed throughout the lifecycle of any initiative in any industry. The Project Cost Estimation is the process of approximating the total expenditure of the project.
The accuracy of the cost estimation depends on the accuracy and details of the project scope, which is the scope baseline. The scope will also define any constraints like date, resources or budget. As project managers, we can find ourselves a cost estimate, or give any numbers.
Project Estimating and Cost Management has 17 ratings and 1 review. Ricardo said: I like very much the Management Concepts Series about project planning. Cost Management is one of the primary functions of Project Managers. Cost estimating is the process of assembling and predicting costs of a project over its. Fortunately, there are some tools and techniques used by professional project managers that you can use to develop more accurate cost estimates.
This course introduces the types of cost estimation from the conceptual design phase through the more detailed design phase of a construction project. Project Estimating and Cost Management (Project Management Essential Library ) [Parvis F. Rad] on inabenbe.site *FREE* shipping on qualifying offers.