Estimate Costs
Process
Developing an approximation of the monetary resources needed to complete project activities.
When performed: Periodically as needed
Process group: Planning
Knowledge Area: Cost Management
Outputs Created
Outputs Updated
Inputs
- Cost management plan*
- Scope baseline*
- Quality management plan
- Project schedule
- Resource requirements
- Risk register
- Lessons learned register
- Enterprise environmental factors
- Market conditions
- Published commercial information
- Exchange rates and inflation
- Organizational process assets
- Cost estimating policies
- Cost estimating templates
- Historical information and lessons learned repository
Tools & Techniques
- Analogous estimating
- Parametric estimating
- Bottom-up estimating
- Three-point estimating
- Alternatives analysis
- Reserve analysis
- Cost of quality
- Project management information system (PMIS)
- Voting
- Expert judgment
Key inputs & outputs are indicated with *
