Determining the cost of a project is one of the most important initial steps for a project manager. If a project manager cannot stay within a controlled budget, they may not have the funds to complete the project.

 The budget and financial plan is typically created during the initial stage of project development. Costs and resources should be set during the initiation stage to adequately plan and allocate costs.

– Defining cost management sciences.

– Financial methods of calculating project budget.

– Cost evaluating methods:

-Direct cost.

-Indirect cost.

– Project cash flow:

-Expenses.

-Income.

– Balancing between project time & project cost.

– Controlling project expenses:

-Cost control.

-Time control.

– Different case studies.

Dr. Rymond Fayeq