What Is the First Step in Project Cost Management

question 14

Multiple Choice

 What is the first step in project cost management?

• A) allocate project cost estimates to individual material resources
• B) plan how costs will be managed
• C) control project costs and monitor cost performance
• D) develop several estimates of costs for different types of resources

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Definitions:

Employer-Employee Relationship

The formal relationship between an employer who provides remuneration and an employee who provides labor or services.

General Power of Attorney

A legal document that grants one individual the authority to act on behalf of another person in a wide range of legal and financial matters.

Legal Documents

Binding written documents recognized by law, used to establish agreements, rights, or obligations.

Civil Law

Civil law refers to the system of laws concerned with private relations between members of a community rather than criminal, military, or religious affairs.