The Cost Control process in Project Cost Management includes all of - ProProfs Discuss
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The Cost Control process in Project Cost Management includes all of the following, EXCEPT:



A. Informing stakeholders of authorized changes
B. Monitoring cost performance to detect variances
C. Ensuring that cost changes are recorded appropriately
D. Establishing a cost baseline for tracking project performance

This question is part of pspkv 5

Asked by Dunstano, Last updated: Aug 10, 2020

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John Smith

John Smith

Answered Sep 09, 2016

Establishing a cost baseline for tracking project performance-the cost control process does not involve establishing a cost baseline for tracking project performance. this is part of the cost budgeting process, which precedes the cost control process. the cost baseline is a time-phased budget used for measuring and monitoring cost performance on the project. it is an output of the cost budgeting process and an input to the cost control process. all of the other options are incorrect because they are included in the cost control process. cost control refers to the process of gathering, analyzing, reporting, and monitoring project costs on an ongoing basis. cost control includes influencing the factors that change the cost baseline, determining that the cost baseline has changed, and managing these changes as they occur during the project. cost control also includes informing the project stakeholders, especially the upper management, of authorized changes.
 

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