According to PMI's PMBOK Guide, which project management knowledge area focuses on planning, estimating, budgeting, and controlling a project's financial resources so the work can be completed within the funds approved in the cost baseline?
Cost Management concentrates on all financial aspects of the project, from initial cost estimates through budget development to ongoing cost control, ensuring the project remains within the authorized budget. Quality Management is concerned with meeting stakeholder requirements, Schedule Management targets timely completion, and Resource Management addresses the efficient use of people, equipment, and materials rather than finances.
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Project Management Fundamentals and Core Concepts
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