The cost management plan does not include estimating costs. It includes determining project funding contingencies, determining budget, and controlling costs.
The correct answer is a. Estimate costs. The cost management plan is a document that outlines how the project costs will be estimated, budgeted, and controlled. It helps in determining how the project costs will be managed throughout its lifecycle.
Determining project funding contingencies, determining budget, and controlling costs are all essential functions of the cost management plan. However, estimating costs is not a function of the cost management plan. Estimating costs is a separate process that involves determining the approximate costs of the project's resources, activities, and deliverables.
For example, during the project planning phase, the project manager and team members may use cost estimation techniques like bottom-up estimating or analogous estimating to estimate the costs of various project activities. These estimates can then be used to create the project budget and determine how the costs will be controlled.
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