7. Introducing Project Cost Management

Certification Objectives 7.01 Estimating the Project Costs 7.02 Analyzing Cost Estimating Results 7.03 Creating a Project Budget 7.04 Implementing Cost Control 7.05 Measuring Project Performance 7.06 Considering the Cost Control Results ✓ Two-Minute Drill Q&A Self Test

Projects cost money. Ever worked with a client who had a huge vision for a project, but little capital to invest in that vision? Or worked with a client who gasped when you revealed how much it would cost to complete their desired scope of work? Or have you been fortunate and had a customer who accepted the costs for the project at face value, made certain the funds were available, and sent you on your way to complete the work? As a general rule, management and customers are always concerned with how much a project is going to cost in relation to how much a project is going to earn.