What two key components of the project management plan are used as inputs to create the cost management plan?

The correct answer is C. Procurement management and schedule management plans. When developing the Cost Management Plan, the project team needs input from the Procurement Management Plan (which defines how vendor contracts and their associated costs will be managed) and the Schedule Management Plan (which determines when costs will be incurred over the…

Predictive, Plan-Based Methodologies

Question

What two key components of the project management plan are used as inputs to create the cost management plan?

Options

ASchedule management and risk management plans
BSchedule management and scope management plans
CProcurement management and schedule management plans
DResource management and schedule management plans

How the community answered

(50 responses)

A
8% (4)
B
2% (1)
C
88% (44)
D
2% (1)

Explanation

When developing the Cost Management Plan, the project team needs input from the Procurement Management Plan (which defines how vendor contracts and their associated costs will be managed) and the Schedule Management Plan (which determines when costs will be incurred over the project timeline). Together, these two plans inform how costs will be planned, structured, and monitored. Option A (risk management) and Option D (resource management) are relevant to other cost considerations but are not the primary plan components feeding into cost management plan development in this context.

Topics

#Cost Management#Project Management Plan#Process Inputs#Schedule Management#Procurement Management

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