Project Management

7 Cost Management Terms You Should Know

From the The Money Files Blog
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A blog that looks at all aspects of project and program finances from budgets, estimating and accounting to getting a pay rise and managing contracts. Written by Elizabeth Harrin from RebelsGuideToPM.com.

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Categories: cost management


There’s a lot of jargon in project cost management, and your cost management plan is full of terminology you might not have come across before.

There’s nothing difficult about the vocab, and it’s not trying to catch you out. However, if you are finding there are sections of your cost management plan that you don’t know how to complete, it could be because the jargon is new to you.

This infographic sets out 7 of the common cost management terms that you’ll come across when preparing a cost management plan, and explains them in simple language!


Posted on: March 20, 2019 09:00 AM | Permalink

Comments (14)

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Rami Kaibni
Community Champion
Senior Projects Manager | Field & Marten Associates New Westminster, British Columbia, Canada
Great Summary Elizabeth

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Wade Harshman Scrum Master| GDIT Indianapolis, In, United States
Thanks for sharing the graphic. This is timely; I need to refer someone to this post.

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Liliya Sablukova, MBA, PMP, CGFO Sarasota, FL, United States, United States
Thank you.

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Drake Settsu Project Manager / Blogger Hi, United States
Very good reference Elizabeth!

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Vincent Guerard Coach - Trainer - Speaker - Advisor| Freelance Mont-Royal, Quebec, Canada
Some of the important terms, I would have put the WBS! UNless you consider it to be part of the Unit of Mesure.

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Khai Ng. IT PMO | IT Project Manager| TTGROUP Hanoi, Viet Nam
Thank you!

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Tamer Zeyad Sadiq Assistant Cost Manager| Turner & Townsend Riyadh, Ar Riyad, Saudi Arabia
Cost management plan!!!!

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Tarik Chougua Project Manager| CEPEO Ottawa, Ontario, Canada
Thank you.

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Mayte Mata Sivera PMO Leader | Speaker | Author Ut, United States
The perfect summary to have handy!

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RAJESH K L Project Manager, PMP| Bharat Electronics, Bengaluru, India Bengaluru, Karnataka, India
Thanks for sharing!!

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Dawson Preethi Design Manager BSc(Eng) MSc (Str Eng) MASCE PMP| AECOM ARABIA Riyadh, Saudi Arabia
Grand summary! Thank you.

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Josè Luis Villabrille Project Manager| ENEL-Engineering and Construction Palma De Mallorca, Spain- Baleares, Spain
Thanks for sharing

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Liliya Sablukova, MBA, PMP, CGFO Sarasota, FL, United States, United States
True. Thank you.

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Andre Cassule FEED and Detailed Engineering, Project management| DEAL Luanda, Luanda, Angola
thanks for sharing

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