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    Cost Management Plan Template

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    Miguel diaz
    The document provides a template and descriptions for elements to include in a cost management plan. It lists elements such as units of measure, level of precision and accuracy for estimates, organizational procedure links, control thresholds for variances, rules for performance measurement, cost reporting format, and additional details. The template can be used to document the specific approach for cost management that will be followed for a given project.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Cost Management Plan Template

    Uploaded by

    Miguel diaz
    84 views2 pages
    The document provides a template and descriptions for elements to include in a cost management plan. It lists elements such as units of measure, level of precision and accuracy for estimates, organizational procedure links, control thresholds for variances, rules for performance measurement, cost reporting format, and additional details. The template can be used to document the specific approach for cost management that will be followed for a given project.

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    Cost Management Plan template

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    The document provides a template and descriptions for elements to include in a cost management plan. It lists elements such as units of measure, level of precision and accuracy for estimates, organizational procedure links, control thresholds for variances, rules for performance measurement, cost reporting format, and additional details. The template can be used to document the specific approach for cost management that will be followed for a given project.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    84 views2 pages

    Cost Management Plan Template

    Uploaded by

    Miguel diaz
    The document provides a template and descriptions for elements to include in a cost management plan. It lists elements such as units of measure, level of precision and accuracy for estimates, organizational procedure links, control thresholds for variances, rules for performance measurement, cost reporting format, and additional details. The template can be used to document the specific approach for cost management that will be followed for a given project.

    Copyright:

    © All Rights Reserved
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    Download as pdf or txt
    of 2

    Planning Forms 83

    Description
    You can use the descriptions in Table 2.17 to assist you in developing a cost management plan.

    TABLE 2.17 Elements of a Cost Management Plan

    Document Element Description


    Units of measure Indicate how each type of resource will be measured. For example, labor units may
    be measured in staff hours, days, or weeks. Physical resources may be measured in
    gallons, meters, tons, or whatever is appropriate for the material. Some resources are
    based on a lump sum cost each time they are used.
    Level of precision Indicate whether cost estimates will be rounded to hundreds, thousands, or some
    other measurement.
    Level of accuracy Describe the level of accuracy needed for estimates. The level of accuracy may
    evolve over time as more information is known (progressive elaboration). If there are
    guidelines for rolling wave planning and the level of refinement that will be used for
    cost estimates, indicate the levels of accuracy required as time progresses.
    Organizational procedure Cost estimating and reporting should follow the numbering structure of the WBS. It
    links may also need to follow the organization’s code of accounts or other accounting and
    reporting structures.
    Control thresholds Indicate the measures that determine whether an activity, work package, or the
    project as a whole is on budget, requires preventive action, or is over budget and
    requires corrective action. Usually indicated as a percent deviation from the baseline.
    Rules of performance Identify the level in the WBS where progress and expenditures will be measured. For
    measurement projects that use earned value management indicate whether costs will be reported
    at the work package or control account level. Describe the measurement method
    that will be used, such as weighted milestones, fixed-formula, percent complete, etc.
    Document the equations that will be used to forecast estimates to complete (ETC)
    and estimates at completion (EAC).
    Cost reporting information Document the cost information required for status and progress reporting. If a spe-
    and format cific reporting format will be used, attach a copy or refer to the specific form or tem-
    plate. Indicate the reporting frequency.
    Additional details Describe variables associated with strategic funding choices, such as make or buy,
    buy or lease, borrowing funds versus using in-house funding, etc.
    COST MANAGEMENT PLAN 
    Project Title: Date Prepared:

    Units of Measure: Level of Precision: Level of Accuracy:

    Organizational Procedure Links:

    Control Thresholds:

    Rules of Performance Measurement:

    Cost Reporting and Format:

    Additional Details:

    Page 1 of 1

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