Process: Estimate Costs

Estimate Costs

In the Estimate Costs process, approximate monetary resource requirement is identified to complete different project activities. In this process overall expenditure of different activities are identified and defined. Estimation involves various factors such as risk factors, organizational environmental factors, etc.

Inputs

Following are the inputs fo the Estimate Costs process:

• Scope baseline
• Project Schedule
• Human resource plan
• Risk register
• Enterprise environmental factors
• Organizational process assets

Outputs

Following are the outputs of the Estimate Costs process:

• Activity cost estimates
• Basis of estimates
• Project document updates