List five (5) budgeting processes that should be standardised in workplace budgeting procedures.

Explain how each of the following tools is being used in project budgeting processes.

1. Spreadsheets
2. Project management software/apps

Below are two techniques used in determining the project budget. Describe each technique in the context of budgeting.

1. Cost aggregation
2. Reserve analysis

Describe how each of the following method works for estimating project costs.

1. Bottom-up estimating
2. Parametric estimating
3. Three-point estimating

List three (3) tools used to estimate project costs.

Describe how each of the following methods works for analysing project costs.

1. Top-down cost analysis
2. Bottom-up cost analysis
3. Analogous estimating
4. Computation

List three (3) tools used to analyse project costs.

Listed below are different strategies to manage project costs. For each strategy, complete the following instructions:

1. Describe each strategy in the context of managing project costs
2. Provide one (1) example of a situation where the strategy can be applied

Cost management strategies	Description	Application
Earned value management
Forecasting
Performance reviews

List three (3) processes followed on a project that enable the project supervisor/manager to review costs against actual outcomes.