Develop the Project Cost Management Plan - Project Life Cycle - Management Assignment Help

Assignment Task :

Assessment Task 

Your task for this unit is to develop the project Cost Management Plan For a Project. 

The Cost Management Plan clearly defines how the costs on a project will be managed throughout the project’s lifecycle.

It sets the format and standards by which the project costs are measured, reported and controlled. The Cost Management Plan: 

• Identifies who is responsible for managing costs 

• Identifies who has the authority to approve changes to the project or its budget

• How cost performance is quantitatively measured and reported upon Report formats, frequency and to whom they are presented Using the CAL template (Cost Management Plan) or your own company’s template, your task is to develop a comprehensive project cost management plan for your project. If you use your own company’s template you will need to ensure it includes all the information listed below so you may need to alter your template to suit. Where possible, you should develop your cost management plan using the project you are working on and the information gathered in the charter document you developed for the previous module assessment. Remember, as with the previous assessment, you can develop your cost management plan for a new project you are working on or, you can go back and review the cost management plan already developed for your project. If you do not have a project either about to commence or one that you are currently working on then you may elect to complete this task by case study. Your cost management plan must include all of the following (further details of what each section needs to contain is included in the template doc provided with tutorial 1): 

• Introduction 

• Cost Management Approach - This section you explain your approach to cost management for your project.

• Measuring Project costs - This section defines how the project’s costs will be measured – you need to detail how you will measure the project costs 

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