CHAPTERPROJECT COST MANAGEMENTLEARNING OBJECTIVESAfter reading this chapter, you will be able to:Understand the importance of project cost managementExplain basic project cost management principles, concepts, and termsDescribe the process of planning cost managementDiscuss different types of cost estimates and methods for preparing themUnderstand the processes of determining a budget and preparing a cost estimate for an information technology (IT) projectUnderstand the benefits of earned value management and project portfo¬lio management to assist in cost controlDescribe how project management software can assist in project cost management
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