Cost Estimating Process

The abovementioned process falls within the 'Planning' process group of the 'Cost Management' knowledge area, as per PMI PMBok.

A key input and tool/technique for the Cost Estimating process is the cost of human resources and material and equipment. With specific reference to HR costs (rates), not only are HR rates required for cost estimating but actual work performed by human resources need to be captured in order for performance reporting to be provided and to determine the actual project cost.

As this process continues throughout the project life cycle, RobustPMSM offers the Cost Management Implementation service to facilitate the successful implementation of the Cost Estimating process.