Chapter 7
Project Cost Management
The PMBOK® Guide—Third Edition defines Project Cost Management as “the processes involved in planning, estimating, budgeting, and controlling so that the project can be completed within the approved budget.” Chapter 7 of the PMBOK® Guide—Third Edition describes three processes:
7.1 Cost Estimating
See Section 7.1 of the PMBOK® Guide—Third Edition.
7.2 Cost Budgeting
As stated in the PMBOK® Guide—Third Edition, “Cost budgeting involves aggregating the estimated costs of individual schedule activities or work packages to establish a total cost baseline ...
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