What is a Cost Management Plan?
A cost management plan refers to a plan that contains all the guidelines and procedures needed to manage project-specific costs including how these are planned, estimated, financed, and controlled. The ultimate purpose of a cost management plan is to ensure project completion on time and within budget.
Further Reading:
– A Complete Guide to Deliverables in Project Management
– Dependencies in Project Management – A Complete Guide
– How to Effectively Track Project Progress for Success?
– How to Stay Organized at Work – 9 Simple Steps
All Terms
- Acceptance Criteria
- Adaptive Project Framework (APF)
- Aggregate Project Plan (APP)
- Agile
- Artifact
- Assumptions
- Baseline
- Backlog
- BOSCARD
- Burn Rate
- Balance Scorecard
- Business Case
- Contingency Plan
- Case Study
- Constraint
- CAPEX (Capital Expenditure)
- Change control
- Change freeze
- Change management plan
- Change request
- Closing Phase
- Communications Management Plan
- Cost Management Plan
- Cost Overrun (Budget overrun)
- Cost Performance Index (CPI)
- Critical Chain Project Management (CCPM)
- Critical Path
- Critical Path Method (CPM)
- Change Management
- Deliverable
- Dependency
- Earned Value
- Execution Phase
- Extreme Programming (XP)
- Fast Tracking
- Feasibility study
- Forecasting
- Goal Setting
- Gantt Chart
- Human Resource Plan
- Initiation phase
- Iteration
- Just in Time (JIT)
- Knowledge Area
- Kanban
- Kickoff Meeting
- Key Performance Indicator (KPI)
- Life Cycle
- Lead Time
- Lean Production
- Milestone
- Net present value (NPV)
- Objectives
- Project Portfolio
- Program Manager
- Performance Indicator
- Planning phase
- PRINCE2 (PRojects IN Controlled Environments)
- Project
- Project Proposal
- Project Manager
- Priority Matrix
- Quality Assurance (QA)
- Quality Control (QC)
- Risk Mitigation
- Risk
- Resource Management
- Risk Register
- Scope Statement
- Six Sigma
- Schedule Management Plan
- Scheduling
- Scope
- Scope Creep
- Scrum
- Sprint
- Stakeholder
- Timeline
- Test
- Use Case
- User Acceptance Test (UAT)
- Virtual Teams
- Value stream mapping
- Work Breakdown Structure (WBS)
- Workaround
- Waterfall Methodology
- X-bar control chart
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What is a Cost Management Plan?
A cost management plan refers to a plan that contains all the guidelines and procedures needed to manage project-specific costs including how these are planned, estimated, financed, and controlled. The ultimate purpose of a cost management plan is to ensure project completion on time and within budget.
Further Reading:
– A Complete Guide to Deliverables in Project Management
– Dependencies in Project Management – A Complete Guide
– How to Effectively Track Project Progress for Success?
– How to Stay Organized at Work – 9 Simple Steps
