Cost Estimation and Time management Certification | PMP Exam

Published 2022-04-15
Platform Udemy
Price $19.99
Instructors
Charles Hoskinson
Subjects

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Cost estimation in project management is the process of forecasting the financial and other resources needed to complete a project within a defined scope. Cost estimation accounts for each element required for the project—from materials to labor—and calculates a total amount that determines a project's budget.

A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values.


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