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Cost Baseline

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We are back again this week with another post about Project Management Tools- helping you to find the best resources to optimise your project.

So far, we have looked at work breakdown structures and timelines. If you missed out on these posts go take a look. They are worth it!

In today´s post we will be talking about one of the fundamental aspects of project management – costs- and how to best control it.

Have you heard of cost baseline?

The cost baseline manages how much money the project is expected to cost. It also manages when that money will be spent. It is an approved budget usually in a time allocation format that is used to estimate, monitor and control the overall cost performance of the project.

If you are interested in finding out more and possibly applying this tool to your project, you can learn more about it here…https://pmi-valencia.org/pmief-costes/

Remember that we will continue to add more posts about useful project management tools to our blog.
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