Cost budgets are compiled in a ____, which is a summary of all anticipated project expenditures.
A)cost plan
B)cost analysis
C)cost estimate
D)value analysis

Question

Quizplus · Accepted Answer

A cost plan is a comprehensive summary of all anticipated project expenditures, including labor and material costs, as well as any other costs associated with the project. This plan outlines the project budget and creates a framework for monitoring and controlling project costs. Cost analysis involves breaking down the cost plan into its individual components to evaluate the cost of each element in relation to the overall project budget. Cost estimates are typically prepared before the cost plan is developed and provide an estimate of what the project will cost. Value analysis involves analyzing the relative value of different elements of the project to identify opportunities to reduce costs or improve the value of the project.

Cost Budgets Are Compiled in a ____, Which Is a Summary