Project Cost

Just like other elements that are a part of the scope, the project ' s scope can change if the costs change.

When writing a project cost statement, you don t need to worry yourself about every jot and tittle of a project' s costs. You' re more interested in pointing out high-level costs such as those associated with hardware, software, and vendors. In the scope document, your goal is to give a number to project sponsors so they have a reliable ballpark figure that they can use for project justification and authorization purposes. It helps if a CIO can say to the CEO, "We estimate this project will cost around $1 million and will require 4,500 person-hours."

Note Estimating detailed project costs and project hours is further discussed in Chapter 8.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

Get My Free Ebook

Post a comment