Q:
Project Cost Management - Processes
Describe the Inputs, Tools and Techniques , Outputs included in the Cost Estimating ?
Answer
I. Inputs
- Enterprise environmental factors
- Organizational process assets
- Project scope statement
- Work breakdown structure
- WBS dictionary
- Project management plan
- Schedule management plan
- Staffing management plan
- Risk register
II. Tools and Techniques
- Analogous estimating
- Determine resource cost rates
- Bottom-up estimating
- Parametric estimating
- Project management software
- Vendor bid analysis
- Reserve analysis
- Cost of quality
III. Outputs
- Activity cost estimates
- Activity cost estimate supporting detail
- Requested changes
- Cost management plan (updates)
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