Lesson 6 Introduction
It's time for the bottom line. A large part of project success is completing planned work and deliverables within an established budget. That budget results from an estimation of labor time and direct monetary expenses attributable to the project.
By the end of this lesson, you should be able to:
- describe the basic principles and concepts of cost management;
- describe key inputs into cost estimates and budgets;
- assign resources (team labor time and monetary costs) to project tasks; and
- understand earned value management (EVM) as a means to track and manage project resources.
Readings, written assignments, and quizzes required for this lesson are summarized on the Lesson 6 checklist page.
If you have any questions or would like to brainstorm ideas, please contact the instructor by phone or email. Also feel free to communicate with your fellow students via the Discussion Forum or email.