APM PMQ (2024) Budgeting and Cost Control (LO22)
22. Budgeting and Cost Control - This budget discusses the ability to estimate costs, develop and agree budgets and monitor actual costs against forecast costs, and covers: a) How to create a budget (including the use of a cost breakdown structure) and the different costs included in a budget (fixed, variable, direct, indirect etc.) b) How to forecast and refine budgets using cost control techniques e.g. earned value. c) How to monitor and report financial performance (including different types of financial reports). d) How to close down finances at the end of a project.