is the document that sets out the format and established the activities and criteria for planning, structuring, and controlling. is the process of developing an approximation of the cost of the resources needed to complete project activities. is the amount of funds needed above the estimate 5 to reduce the risk of overruns of project objectives to a level acceptable to the organization. is an estimation technique that uses the cost along with measures of scale such as size, weight, or complexity from a previous project to estimate cost for a similar, future project. is an estimate technique that uses a statistical relationship between historical data and other variables to calculate project costs. is a creative approach used to optimize project costs, save time, increase profits, improve quality, expand market shares, solve problems, and/or use resources more effectively. is the process of aggregating the estimated cost of individual activities or work packages to establish a cost baseline. is the approved time-phased budget against which project execution is compared and deviations are measured for management control. is a cost that remains the same regardless of the size or volume of work. is a cost that happens only once during a project, such as developing a design that, once approved, will guide the project team