IT Project management Project Cost Management Processes Resource planning determining what resources and quantities of them should be used Cost estimating a developing an estimate of the costs and resources needed to complete a project Cost budgeting allocating the overall cost estimate to individual work items to establish a baseline for measuring performance a Cost control controlling changes to the project budget Project Cost ManagementProject Cost Management 9 Project Cost Management Processes ◼ Resource planning ◼ determining what resources and quantities of them should be used ◼ Cost estimating ◼ developing an estimate of the costs and resources needed to complete a project ◼ Cost budgeting ◼ allocating the overall cost estimate to individual work items to establish a baseline for measuring performance ◼ Cost control ◼ controlling changes to the project budget IT Project Management