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PPMP20008 Initiating And Planning Projects

tag 0 Download 5 Pages / 1,103 Words tag 30-06-2021

Question:

This Cost Management Plan applies to the Organisational / Program / Project costs.Decide which level of cost the Cost Management Plan will apply to and delete the other.Define the unit of measure of the cost of the project. E.g. Specific currency etc.

PMBOK Guide pg. 199 provides an example of this, other examples could include how the portfolio funding cycle and procedures, the cost acquittal procedures etc. You will need to provide one example with a description of the procedure that demonstrates your understanding of the concept. Therefore if you used the example of the Portfolio Funding Procedure, you would then go on to briefly describe that and the importance or link to the project.

Describe what cost performance measures will be used to determine the performance in relation to cost management during the project.States when formal cost management activities – include activities that will align to the Organisational cost management timings. Describe how, when, in what format and to who the cost performance of the project will be reported.

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