Query regarding Input for Control Cost process

Submitted by prashant.spce on Mon, 09/24/2012 - 09:27
prashant.spce's picture

While, I was going through chapter 7. Project Cost Management from PMBOK,4th edition.
 
I was wondering whether for 7.3 Control Cost process, Cost Performance Baseline (an output from Determine Budget process) is necessary as an input or not. I think it should be required as an input because PM needs to be able to check against the cost baseline,so that he can ensure that his project is spending too much or spending less than expected.
 
 
Please let me know if my thinking is wrong.. Obviously no one can challenge PMBOK,but i just wanted a clarification on this.

Forums: 
General Discussion
  • Log in to post comments
  • 715 reads

sspawar

Mon, 09/24/2012 - 11:16

I think 7.3.1.1 is quite enough to understand.

aliweb

Mon, 09/24/2012 - 11:48

You are right and Cost Performance Baseline is mentioned there but not directly. If you read 7.3.1.1. like sspawar said then you will see that it is part of "Project Management Plan"

Here is what PMBOK says about it:

The project management plan described in Section 4.3.2.1 contains the following information that is used to control cost:

Cost performance baseline: The cost performance baseline is compared with actual results to determine if a change, corrective action or preventive action is necessary.