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Determine Budget is part of the “Cost Management” Knowledge Area, and is part of the “Planning” Process Group.
Determine Budget is part of the “Cost Management” Knowledge Area, and is part of the “Planning” Process Group.
Determine Budget is the process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline. The key benefit of this process is that it determines the cost baseline against which project performance can be monitored and controlled.
A project budget includes all the funds authorized to execute the project. The cost baseline is the approved version of the time-phased project budget, but excludes management reserves.
This definition was found in the PMBOK V5
Go back to the Glossary or to the Mapping
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Determine Budget has:
Inputs:
- Activity cost estimates
- Agreements
- Basis of estimates
- Cost management plan
- Organizational Process Assets
- Project schedule
- Resource calendars
- Risk register
- Scope baseline
Outputs:
- Cost baseline
- Project documents updates
- Project funding requirements
Tools and techniques:
- Cost aggregation
- Expert judgment
- Funding limit reconciliation
- Historical relationships
- Reserve analysis
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