Asked by: Marcas Agut
asked in category: General Last Updated: 1st May, 2020

Which activities occur in the Project Cost Management knowledge area?

The Project Cost Management knowledge area has the following processes:
  • Estimate Costs : Performed during project planning.
  • Determine Budget: Performed during project planning.
  • Control Costs : Performed during project monitoring and controlling, i.e. the project is being implemented.

Click to see full answer .

In respect to this, what are some of the knowledge areas involved in project management?

Project management knowledge areas coincide with the process groups, which are project initiation, project planning , project execution, monitoring and controlling, and project closing. The knowledge areas are the core technical subject matter, which are necessary for effective project management .

Additionally, how do you monitor and control project costs? There are several techniques as stated in the PMBOK used to monitor and control the cost of a project, each of which is discussed below:

  1. Earned Value Management.
  2. Forecasting.
  3. To-Complete Performance Index (TCPI)
  4. Variance Analysis.
  5. Performance Reviews.

Furthermore, which processes are included in the project cost management?

Project Cost Management includes the processes involved in planning , estimating, budgeting , financing, funding, managing, and controlling costs so that the project can be completed within the approved budget.

What are the nine knowledge areas of project management?

In this article, we will take a deeper look at each of these knowledge areas to give you a better perspective of project management.

  • Project Integration Management.
  • Project Scope Management.
  • Project Time Management.
  • Project Cost Management.
  • Project Quality Management.
  • Project Human Resource Management.
34 Related Question Answers Found

What are the 5 phases of a project?

What is the most important knowledge area in project management?

What are the four core project management knowledge areas?

What are the 49 processes in project management?

What is a knowledge area?

What is WBS in project management?

How do you write a project communication plan?

What is project quality management?

What is the first step in project cost management?

Why is project cost management important?

How do you write a project cost management plan?

What are cost management techniques?

How do you control a project budget?

What are the tools and techniques for project cost management?

English Česky Dansk Deutsch Español Français Hrvatski Indonesia Italiano Lietuvos Magyar Nederlands Polski Português Română Slovenský Srpski Suomi Svenska Tagalog Türkçe Việt Ελληνικά Български Русский עברית العربية தமிழ் ภาษาไทย 中国语文 日本語 한국어