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    Please stick to the number of pages asked!!
    Part 1  (1 page )
        Explain some of the basic principles of cost management, such as profits, life-cycle costs, tangible and intangible costs and benefits, direct and indirect costs, and reserves. For additional insights, provide professional experiences that support your explanation.
    As a project manager, you are responsible for preparing project cost estimates. The three most popular estimation techniques are:
        Rough order of magnitude (ROM).
        Budgetary estimate.
        Definitive estimate.
    Part 2 ( 2 pages only)
    Conduct a research analysis of the following cost management elements:
        Units of measure.
        Level of precision.
        Level of accuracy.
        Performance measurement.
        Control thresholds.
        Documentation.
        Reporting.
    Develop a 2-page summary report of the following:
        A description of each element.
        Specific examples for each element.
        The importance to project success for each element.
    Be sure to include references.
    Part 3 (next steps on project see attach file)
    Cost Management Measurements
    The development of a project cost management plan can include many types of format including utilizing basic cost components for smaller projects to utilizing a highly comprehensive format that includes detailed explanations of several types of cost elements.
    Cost Management Elements:
        Units of Measure
        Level of precision
        Level of accuracy
        Performance measurement
        Control thresholds
        Documentation
        Reporting

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