The cost management knowledge area is responsible for defining and controlling all project costs so that the project can be completed within the approved budget.

Question

Quizplus · Accepted Answer

The cost management knowledge area in project management focuses on identifying, estimating, allocating, and controlling project costs to ensure that the project can be completed within the approved budget. It involves developing a cost management plan, determining the project's cost baseline, and monitoring and controlling project costs throughout its lifecycle.

The Cost Management Knowledge Area Is Responsible for Defining and Controlling