Time & Cost

• Identify and document logical relationships between tasks

• Create a network diagram or logic flow

• Estimate how long each task will take

• Build the full project schedule

• Use tools like Gantt charts, critical path method (CPM), or PERT

• Define milestones and deadlines

• Define how costs will be estimated, budgeted, managed, and reported

• Forecast the cost of resources, labor, materials, and services

• Use estimation techniques (bottom-up, parametric, etc.)

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• Build the full project schedule

• Use tools like Gantt charts, critical path method (CPM), or PERT

• Define milestones and deadlines​

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• Aggregate estimated costs to create an overall budget

• Define cost baseline (authorized spending limit)

• Include contingency and management reserves

• Monitor actual vs. planned progress

• Update the schedule based on performance and change requests

• Report schedule variances and forecasts​

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• Monitor actual spending vs. planned budget

• Use Earned Value Management (EVM) for performance tracking

• Manage cost variances and implement corrective actions