costplanning
Cost planning is a crucial process in project management and business operations, involving the estimation and control of expenses. It begins early in the project lifecycle, often during the initiation or feasibility stages, and continues throughout execution and closure. The primary goal of cost planning is to ensure that a project or venture remains within its allocated budget.
The process typically involves several key steps. First, defining the scope of work and identifying all the
A critical aspect of cost planning is establishing a cost baseline, which serves as a benchmark against
Effective cost planning requires clear communication among stakeholders, accurate data, and a robust system for tracking