estimating based on analogous projects undertaken in the past - top-down estimating of the current costs based on information about the costs of a previous, similar projects,.Tools and techniques for cost estimating: structure of financial reports inside the company,.

publications and commercial data about cost estimating (statistical forecasting, industry analyses, etc.),.resource prices (per unit rate, staff cost per hour, etc.),.It is necessary to create budget of a project.Д¬ost estimating in project cost managementД¬ost Estimating involves forecasting of costs (prices) of the resources necessary for project. Project cost management plan, includes all resources (material, human, financial) needed to complete the project, and associated cost of this resources (based on approximate market value). Resource requirements, description of types and quantities of resources required for project execution.expert judgement - the assessment of the outputs to the project,.Tools and techniques for resource planning: Resource pool description, availability of resources,.scope statement, motives of undertaking the project and objectives,.historical information, information about planning in similar projects in the past,.work breakdown structure (WBS) - identification of all project components, tasks and activities that require resources,.

Structure of project cost management plan Resource plan has to closely correspond with cost estimated. It is necessary to plan the exact number and amount of each resource. materials, equipment, people, which are required to complete the entire project. Resource planning involve careful choice of resources, i.e. Resource planning in project cost management All those activities are tightly linked and interrelated with each other. Project cost management involves all actions taken by project managers necessary to achieve project goals within agreed budget limits.

Cost management plan example pdf