Cost Management

Sunk costs are expended costs. For example, an organization has a project with an initial budget of $1,000,000. The project...

The actual cost of a project represents the true total and final costs accrued during the process of completing all...

See actual cost (AC).

Analogous estimating is a technique for estimating a variety of project parameters and measures of scale. The project parameters that...

The basis of estimates is an important tool in project management. It involves estimators and project managers to calculate the...