Developing the Schedule and Cost Plan

Developing the Schedule and Cost Plan

Daniel M. Brandon (Christian Brothers University, USA)
Copyright: © 2006 |Pages: 37
DOI: 10.4018/978-1-59140-693-8.ch007


The Project Management Institute (PMI) project management process groups include initiation, planning, execution, control, and closing. In practice, however, the initiation processes of a project are often not part of a project for budgeting and control issues, but rather are charged to management and administration (M&A) or operations and maintenance (O&M) general ledger accounts. In some organizations, these charges are later reversed back to a project after it is decided to move forward with that project. Thus, only the planning, execution, and control processes become part of the project for accounting purposes; sometimes detail planning is part of a project but not overall planning. Similarly, the closing process group may or may not be a formal part of the project, and sometimes those processes are performed by an independent organization. This chapter is concerned with detail project planning, particularly the schedule and cost plan.

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