PROJECT COST MANAGEMENT PLAN

PROJECT TITLE

––– COST MANAGEMENT –––

AUTHOR

DATE

Version 0.0.0

REVISION HISTORY
DATE	VERSION	DESCRIPTION	AUTHOR

APPROVAL
DATE	VERSION	NAME	TITLE	SIGNATURE

CIRCULATION LIST
RECIPIENT NAME	ORGANIZATION	RECIPIENT NAME	ORGANIZATION

1. Introduction

1.1 Purpose

1.2 Documentation and Communication Practices

2. Overview

2.1 Summary Statement

2.2 Reporting Requirements

2.3 Estimate Degree Requirements

3. Spending Limit Authorization Levels

4. Cost Variance Action Plan

5. Approach Defined

5.1 Procedures

5.2 Policies

5.3 Documentation

6. Cost Estimation Process Defined

7. Cost Baseline

7.1	WBS of Work Sections and / or Individual Tasks

7.2	Estimate Method

7.3	Funding

7.4	Contingency / Reserve

8. Cost Control and Metrics

9. Reporting Process Defined

10. Change Control Process

11. Project Budget

Introduction

Project cost management plan overview

Purpose

Identify the desired outcome and how the plan will be beneficial.

Documentation and Communication Practices

Discuss how progress and changes will be documented and how information will be communicated with team members and stakeholders.

Overview

Briefly elaborate on how the cost management process will enhance the project.

Summary Statement

Briefly elaborate on how the cost management process will impact / enhance the project.

Reporting Requirements

Define the methods, process, and regularity of status reporting.

Estimate Degree Requirements

Indicate the percentage of variance required throughout the planning stages, i.e., conception, charter, etc.

Spending Limit Authorization Levels

SPENDING LIMIT AUTHORIZATION LEVELS
COST LIMIT	NAME / TITLE	EMAIL	PHONE

Cost Variance Action Plan

COST VARIANCE ACTION PLAN
% OF VARIANCE	REQUIRED ACTION DESCRIPTION	PARTY RESPONSIBLE

Approach Defined

Define how the overall plan will be created, revised, monitored, and controlled.

Procedures

Define set procedures.

Policies

List all policies that must be followed.

Documentation

Detail the documentation process throughout the life of the project.

Cost Estimation Process Defined

Detail how estimates should be reached and classified, including thresholds, risks, performance rules, confidence ratings of estimate accuracy, etc.

Cost Baseline

WBS of Work Sections and / or Individual Tasks

Break out each section, task, or group of tasks.

Estimate Method

Parametric, Analogous, Three-Point, Bottom-Up, etc.

Funding

Describe the method of financing.

Contingency / Reserve

Detail all funds held.

Cost Control and Metrics

Detail the metrics used in conjunction with set thresholds.

Reporting Process Defined

Detail how the management plan will be reported. Define any processes.

Change Control Process

Describe the procedure for requesting and implementing changes to the plan, including how changes are approved / rejected and how they will be reported to the circulation list.

Project Budget

List the final figures reached for contingency / reserve, fixed, material, and contractor costs—a project total.

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