Determine Budget
The Determine Budge is the process of aggregating the estimated costs of activities or work packages, involved in the project, to establish an authorized cost baseline. This provides enormous help for the Project Manager to determine actual requirement of budget for the project.
Inputs
There are seven inputs for the process:
- Activity cost estimates
- Basis of estimates
- Scope baseline
- Project schedule
- Resource calendars
- Contracts
- Organizational process assets
Outputs
There are following three outputs in this process:
- Cost performance baseline
- Project funding requirements
- Project document updates
