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Cost budgeting aggregating the estimated costs of resources, work packages and activities to establish a cost baseline. Cost Control – factors that create cost fluctuation and variance can be influenced and controlled using various cost management tools.
Devaux's Index of Project Performance (usually known as the DIPP) is a project management performance metric [1] formulated by Stephen Devaux as part of the total project control (TPC) approach to project and program value analysis. It is an index that integrates the three variables of a project (scope, time and cost) into a single value-based ...
Monitoring the project variables (cost, effort, scope, etc.) against the project management plan and the project performance baseline (where we should be); Identifying corrective actions to address issues and risks properly ( How can we get on track again );
Project Cost Management (PCM) is the dimension of project management which aims to ensure that a project is completed within its approved budget. [1] [2] It encompasses several specific project management activities including estimating, job controls, field data collection, scheduling, accounting and design, and uses technology to measure cost and productivity through the full life-cycle of ...
Cost management plan; Procurement management plan; Project scope management plan; Schedule management plan; Quality management plan; Risk management plan; HR or staffing management plan; Resource calendar: Identify key resources needed for the project and their times and durations of need. Cost baseline: This section includes the budgeted total ...
Earned value management (EVM), earned value project management, or earned value performance management (EVPM) is a project management technique for measuring project performance and progress in an objective manner.
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