
Explore project cost management fundamentals, including differentiating project cost from lifecycle cost, contingency versus management reserves, and cost estimation methods, with budget guidance, templates, and practice questions.
Master how to monitor and control project costs against the baseline using earned value management. Forecast and manage variances to keep budgets within funding limits.
Project cost management is traditionally a weak area of IT projects. IT project managers must acknowledge the importance of cost management and take responsibility for understanding basic cost concepts, cost estimating, budgeting, and cost control. Project managers must understand several basic principles of cost management to be effective in managing project cost.