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Manage   »   Cost   »   Cost data collection

Later on as you near the end of your projects you will depend on financial data collected throughout the project and from the start. You want to know where that data has come from and how accurate that data is. Again it is best to agree the mechanisms for collecting and sourcing your data at the outset.

Agree who is going to collect the data and who is going to source the data as well as who is going to collate and communicate the data. This might be a team or an individual. Either way once you are agreed who is going to do this, you will then decide how they are going to do it.

Cost data come from many sources. People are traditionally the largest costs on projects. But of course there are many other costs that you may consider important for your project and which will be agreed beforehand. Before we go further we will make something clear, crystal clear. The Toolkit is not a heavyweight project tool; our ethos is fit for purpose.

In traditional project management methods and systems engineering methodologies we would start with a work breakdown structure which would define and group a projects work elements or tasks so as to organize the various elements that make up your project.

If this is what you want to do then so be it, but it is not necessary. We are not going to measure your project by discrete functional subdivided workgroups or any other nebulous split. We are going to make it much simple than that. You will see later that your project is subdivided into discrete time elements and it is these time elements which will have costs. Let us look at how we estimate these costs.


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Cost data collection


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