ℹ️ Cost is one of the six dimensions of project performance.
All projects have an associated monetary cost. A high-level and resourced plan is required to estimate the project cost.
Project managers need to consider both capital and operating costs when estimating the budget.
The approved budget is controlled to avoid overruns. If the project spend will exceed tolerance, a change is raised.
💡 Do you agree budget tolerance with the project sponsor or board at the start?