week 5 cost management plan

Cost Management Plan: Develop a cost plan for your project that identifies the allocation and cost of resources for your project. This estimate is applied across the calendar, making a budget that the finance department must know about so they can ensure the funds are available. Estimating the cost of each activity within each work package is the most accurate way. After performing bottom-up addition, see if your estimate meets the constraint allocated by upper management for the project. If not, you must either negotiate for more money or reduce quality or scope to ensure it is realistic to complete the project as defined with the funds available.

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