RESOURCE THE PROJECT TEAM by giving a overall cost and schedule estimate so they can control and monitor there resources. This will help limit waste so they don 't think resources are endless.
FRONT END LOAD investigate the job to avoid cost blowouts and so surprises in task.
TRANSFER RISK to sub-contractors
The fundamental concepts for a Project Cost Management plan are
1. Estimate Costs - Developing an approximation of cost to complete the individual task.
2. Determine Budget - The budget is gathering the cost of the task to establish a cost baseline.
3. Control Cost - This is the process of monitoring the status of the project to determine if the project budget is on track or it will require changes to ...
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