The project cost is determined to keep the project in its budget. It is also an important part of project management.

Cost evaluation, cost control and budget expenses related to the costs of the three processes, interact with each other and with other areas of project management. All of these processes require the effort and cost of things they know well. Depending on the complexity of the project, they need more than one person, and they may occur more than once in a lifetime project.

The project cost can be very simple or extremely complex. If one part of the project is growing scrimping ... said ... a maintenance cost after the end of the project, the maintenance costs should be included in the cost of the project management strategy. Such an approach is sometimes called "the life-cycle cost, and can reduce the project and to improve the quality of the deliverable. But the Project should also consider what the project stakeholders to think about the cost of the project. They measure the costs in different ways and at different times. As the brick is looking at a different angle.

Assessing the costs and the costs of the budget are two different processes, but are often closely related. For small projects, they are often made by one and the same person, because of this. Affect the cost of the project is the easiest at the beginning, so it is important to define the scope of its budget at the beginning of the project. This includes the creation of the cost management plan, which has many benefits.

This term is defined in the 3rd and 4 edition of the PMBOK.