Assignment #1: Find a current article related to Project Cost Management and summarize this article in 2 pages. Refer to the information below.
Project Cost Management,
There are three project cost management processes.
Estimating costs involves developing an approximation or estimate of the costs of the resources needed to complete a project. A cost management plan should include information related to the level of accuracy for estimates, variance thresholds for monitoring cost performance, and reporting formats.
Determine the budget involves allocating the overall cost estimate to individual work items to establish a baseline for measuring performance.
Controlling costs involves controlling changes to the project budget. The main outputs of the cost control processes are work performance measurements, budget forecasts, organizational process asset updates, change requests, project management plan updates, and project document updates.
Assignment #2:Summarize the two most important tools and techniques used in estimating software projects. Provide an example of how these tools were applied in your work environment in 2 pages. Why did you select these as the two most critical tools? Make sure to cite all sources of your information in APA format and please no bullet points should be used.