Cost Estimation in project management is how the costs of a particular project are estimated, allocated, and controlled, allowing companies to identify and forecast future expenditures to ensure that they do not exceed the company’s budget.
The expected costs are calculated during the planning phase of the project and must be approved before the start of work on the project.
The expenditures are documented and tracked during the implementation of the project so that all operations go wit...
121 views
0 likes