Plan Cost Management is the process of defining how the project costs will

be estimated, budgeted, managed, monitored, and controlled.

The key benefit of this process is that it provides guidance and direction on

how the project costs will be managed throughout the project.

This process is performed once or at predefined points in the project. The inputs, tools and techniques,

and outputs of this process are depicted in Figure 7.2. Figure 7.3 depicts the data flow diagram of the process.