The cost management plan establishes the format and criteria for planning and controlling the project costs.

Question

Quizplus · Accepted Answer

The cost management plan is a document that lays out the framework for planning and controlling project costs. It specifies the format and criteria for estimating, budgeting, and monitoring costs, as well as identifying roles and responsibilities for the project team. Therefore, the statement given in the question is true.

The Cost Management Plan Establishes the Format and Criteria for Planning