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Estimating Costs
Describe the process of developing an approximation of the monetary resources needed to complete project activities |
Inputs:
- Scope Baseline - Project Schedule - HR Plan - Risk Register - EEFs -OPAs TT: -Expert Judgement - Analogous Estimating - Parametric Estimating - Bottom-up Estimating - 3 Point Estimating - PM Estimating Sftwr - Vendor Bid Analysis - Reserve Analysis - Cost of Quality Outputs: = Activity Cost Estimates = Basis of Estimates = Project Document Updates |
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Determine Budget:
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Process of aggregating estimated costs of individual activities or work packages to establish an authorized baseline
- Create budget for Project -Establishes a total cost baseline |
Inputs |
