Determine Budget

Process

Aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline.

When performed: Once or at predefined points

Process group: Planning

Knowledge Area: Cost Management

Outputs Created

• Cost baseline*
• Project funding requirements*

Outputs Updated

• Cost estimates
• Project schedule
• Risk register

Inputs

• Cost estimates*

• Cost management plan

• Resource management plan

• Scope baseline

• Basis of estimates

• Project schedule

• Risk register

• Business case

• Benefits management plan

• Agreements

• Enterprise environmental factors

  • Exchange rates

• Organizational process assets

  • Existing formal and informal cost budgeting-related policies, procedures, and guidelines
  • Historical information and lessons learned repository
  • Cost budgeting tools
  • Reporting methods

Tools & Techniques

• Cost aggregation
• Reserve analysis
• Historical information review
• Funding limit reconciliation
• Financing
• Expert judgment

Key inputs & outputs are indicated with *