A project manager is in the initial planning stages of a new project and is about to create the cost management plan. This plan will outline how project costs will be planned, structured, and controlled. Which of the following documents serves as a primary input, providing the summary budget and formal authorization for the project?
The Project Charter is a primary input to the Plan Cost Management process. It provides the pre-approved financial resources, summary budget, and project approval requirements that are essential for developing the cost management plan. The cost baseline is an output of the Determine Budget process, the Work Breakdown Structure is primarily an input for estimating costs, and the project management plan is the overall plan that the cost management plan will become a part of.
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What is a Cost Management Plan?
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Why is the Project Management Plan referenced first in the Plan Cost Management process?
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How does the Cost Baseline differ from the Cost Management Plan?
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