Project Management

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Estimating Costs in a Project

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Vipin Verma Project Supervisor| Infinite Computer Solutions Pte Ltd Singapore, Singapore
As per project management lifecycle, cost estimation happens under Planning process group. But I have seen that in real life the cost is agreed much earlier at the time of awarding contract based on business case. Project Management Plans are finalized at much later stage. I have handled some projects (FPP) where costs are already agreed upon before I am asked to plan, execute and manage a project. Can someone help me understand this?
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