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MindMap Gallery project cost management

project cost management

This mind map about project cost management introduces the knowledge of budget formulation, cost control, cost types, planning cost management, and cost estimation.

Edited at 2023-05-26 00:08:12

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project cost management

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Outline

project cost management

Budgeting

process definition

The process of summarizing the estimated costs of all individual activities or work packages to establish an approved cost baseline

process effect

Establish a cost baseline against which project performance can be monitored and controlled

Includes all funds approved for the project

The cost baseline does not include management reserves, but if they are used, they must be included in the cost baseline.

enter

project management plan

cost management plan

resource management plan

Scope Baseline

project files

Estimate basis

Whether indirect or other costs should be included

Cost Estimate

Project schedule

project activities

milestone

work package

Control your account's scheduled start and end times

Aggregate planned milestones and actual costs into corresponding calendar periods

risk register

business documents

business case

revenue management plan

protocol

business environment factors

organizational process assets

Tools & Techniques

expert judgment

cost summary

data analysis

Reserve analysis

Historical information review

Helps in parameter estimation or analogy estimation

Prerequisites for Analog Model Accuracy

Historical information is accurate

Parameters are easy to quantify

The model can be adjusted and is suitable for large, small and all stages.

resource constraint balancing

Balance capital expenditures

Achieved by adding mandatory dates to the project schedule

Financing

Obtain external funding for projects

Long-term projects often seek external financing

Financing

Bank loan

bond financing

output

cost basis

Excludes management reserves

Allocate by time period

Changes can only be made through the change procedure

Project funding requirements

Step-like

Total Funding Requirements = Cost Baseline Management Reserve

Project file updates

Cost Estimate

Project schedule

risk register

Control costs

process definition

Monitor project status, update project costs and manage the cost change process

process effect

Maintain cost baselines throughout the project

Requires oversight of both the expenditure of funds and the value of the work completed by the expenditure

enter

project management plan

cost management plan

cost basis

performance measurement benchmarks

project files

Lessons Learned Register

Project funding requirements

job performance data

organizational process assets

Tools & Techniques

expert judgment

data analysis

Earned value analysis

Planned Value - PV

Earned Value – EV

Actual Cost - AC

Deviation analysis

Progress Variance - SV

SV = EV - PV

SV > 0 progress ahead of schedule

SV < 0 behind schedule

Cost Variance - CV

CV = EV - AC

CV > 0 Cost Savings

CV < 0 cost overrun

Schedule Performance Index - SPI

CV=EV/PV

SPI > 1 progress ahead of schedule

SPI < 1 behind schedule

Cost Performance Index - CPI

CV = EV - AC

CPI > 1 Cost Savings

CPI < 1 cost overrun

trend analysis

icon

Forecast - EAC

EAC= AC ETC

ETC type

Typical situation

ETC = (BAC - EV) / CPI

atypical situations

ETC = (BAC - EV)

affect simultaneously

ETC = (BAC - EV) / (CPI * SPI)

Reserve analysis

To-Complete Performance Index – TCPI

Performance index to completion

project management information system

output

job performance information

cost forecast

change request

Project Management Plan Update

cost management plan

cost basis

performance measurement benchmarks

Project file updates

Hypothetical log

Estimate basis

Cost Estimate

Lessons Learned Register

risk register

Core idea

The various processes of planning, estimating, budgeting, financing, financing, managing and controlling costs

management purposes

Ensure project is completed within approved budget

Focus on the cost of resources required to complete project activities

cost type

direct cost

Can be directly charged to the cost of project work

independent activities, supportive activities

Costs that are not directly included in the project work and need to be shared among several costs

dependent activities

fixed costs

Costs that do not change with changes in production volume

Rent, basic salary, etc.

Variable costs

Varies with changes in production volume

Rewards, overtime pay

project cost

Costs over the life of the project

BAC,EAV

product life cycle cost

In addition to project costs, it also includes operation and maintenance costs after the project products are handed over.

Maintenance costs

planning cost management

process definition

Confirm the process of estimating, budgeting, managing, monitoring and controlling project costs

process effect

Provide guidance and direction for cost management

enter

Project Charter

project management plan

progress management plan

risk management plan

business environment factors

organizational process assets

Tools & Techniques

expert judgment

data analysis

Meeting

output

cost management plan

Describe how to plan, schedule and control project costs

Required content

unit of measurement

Accuracy

Organization Program Links

control threshold

performance measurement rules

Define control accounts used by WBS for performance measurement

Earned Value Measurement Techniques

Specify tracking method

report format

Other details

Estimate cost

process definition

The process of making an approximate estimate of the capital costs required to complete project work.

process effect

Determine the funding required for the project

Generally, the number of person-hours and person-days is used

enter

project management plan

cost management plan

quality management plan

Scope Baseline

WBS

Estimating needs from the bottom up

project files

Lessons Learned Register

Project schedule

Activity resource estimation is closely related to cost estimation

If financing costs are included, it is closely related to the duration of the activity

Resource requirements

The cost of dealing with risks needs to be considered

business environment factors

market conditions

Market supply and demand will significantly affect resource costs

Exchange rates and inflation rates

For large-scale projects that last for many years and involve many currencies, you need to consider

organizational process assets

Tools & Techniques

expert judgment

analogy estimation

parameter estimation

Bottom-up estimation

three point estimate

data analysis

Alternatives analysis

Reserve analysis

quality cost

project management information system

decision making

vote

output

Cost Estimate

possible costs

Contingency Reserve for Identified Risks

Management reserves to deal with unplanned work

Estimate basis

Project file updates

Hypothetical log

Lessons Learned Register

risk register