Explanation/Reference:
Explanation:
Process: 7.2 Estimate Costs
Definition: The process of developing an approximation of the monetary resources needed to complete project activities.
Key Benefit: The key benefit of this process is that it determines the amount of cost required to complete project work.
Inputs
1. Cost management plan
2. Human resource management plan
3. Scope baseline
4. Project schedule
5. Risk register
6. Enterprise environmental factors
7. Organizational process assets
Tools & Techniques
1. Expert judgment
2. Analogous estimating
3. Parametric estimating
4. Bottom-up estimating
5. Three-point estimating
6. Reserve analysis
7. Cost of quality
8. Project management software
9. Vendor bid analysis
10.Group decision-making techniques
Outputs
1. Activity cost estimates
2. Basis of estimates
3. Project documents updates

Section: Volume E
Explanation:
4.2.3.1 Project Management Plan
The project management plan is the document that describes how the project will be executed, monitored, and controlled. It integrates and consolidates all of the subsidiary plans and baselines from the planning processes.
Project baselines include, but are not limited to:
Scope baseline (Section 5.4.3.1),

Schedule baseline (Section 6.6.3.1), and

Cost baseline (Section 7.3.3.1).

Subsidiary plans include, but are not limited to:
Scope management plan (Section 5.1.3.1),

Requirements management plan (Section 5.1.3.2),

Schedule management plan (Section 6.1.3.1),

Cost management plan (Section 7.1.3.1),

Quality management plan (Section 8.1.3.1),

Process improvement plan (Section 8.1.3.2),

Human resource management plan (Section 9.1.3.1),

Communications management plan (Section 10.1.3.1),

Risk management plan (Section 11.1.3.1),

Procurement management plan (Section 12.1.3.1), and

Stakeholder management plan (Section 13.2.3.1).

Among other things, the project management plan may also include the following:
Life cycle selected for the project and the processes that will be applied to each phase;

Details of the tailoring decisions specified by the project management team as follows:

○ Project management processes selected by the project management team,
○ Level of implementation for each selected process,
○ Descriptions of the tools and techniques to be used for accomplishing those processes, and
○ Description of how the selected processes will be used to manage the specific project, including the dependencies and interactions among those processes and the essential inputs and outputs.
Description of how work will be executed to accomplish the project objectives;

Change management plan that documents how changes will be monitored and controlled;

Configuration management plan that documents how Configuration management will be performed;

Description of how the integrity of the project baselines will be maintained;

Requirements and techniques for communication among stakeholders; and

Key management reviews for content, the extent of, and timing to address, open issues and pending

decisions.
The project management plan may be either summary level or detailed, and may be composed of one or more subsidiary plans. Each of the subsidiary plans is detailed to the extent required by the specific project. Once the project management plan is baselined, it may only be changed when a change request is generated and approved through the Perform Integrated Change Control process.