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It establishes formats and standards for measuring, reporting, and controlling costs, including quantitative cost performance reporting, approvals, forecasting, variance analysis, accruals, journal entries, and WBS maintenance. Responsibilities for cost management and change approvals are outlined for key project team members, supporting the implementation phase and integration with related project management plans.","V20  \nDocument Information  \n\n| Document Purpose   | The Cost Management Plan details how the costs will be managed  \u003Cbr>throughout the project life cycle.The Cost Management Plan is  \u003Cbr>managed by the Site C-Finance Director or delegate and is expected  \u003Cbr>to be progressively detailed throughout the project life cycle as  \u003Cbr>necessary   |\n| --- | --- |\n| Document Owner   |  |\n| File Name(s)   | Cost Management Plan   |\n| Stored at   | http://ppm/projects/YM-80004/ProjectDocuments/YM-80004.4.Z/YM-  \u003Cbr>80004.4.Z.01/YM-80004.4.Z.01.001/Project_Plan/H_Cost Mgmt  \u003Cbr>Plan/YM80004.4.Z.13.00220160606 Cost Management Plan.docx   |\n\nRevision History:  \n\n| Version   | Date   | Author   | Comments   |\n| --- | --- | --- | --- |\n| Rev 01   | March 12,2015   |  | Initial Draft   |\n| Rev 02   | April 6,2016   |  | Full Update   |\n\n1 Executive Summary  \nThis document describes the cost management plan for the Site C Project,and is based on bothguidelines from the BC Hydro Portfolio and Performance Management system(PPM)tailoredfor the size,scale and complexity of the Site C Project and Corporate Finance Guidelines.  \nThe Cost Management Plan clearly defines how the costs on a project will be managedthroughout the project's lifecycle.It sets the format and standards by which the project costsare measured,reported and controlled.The Cost Management Plan:  \n·ldentifies who is responsible for managing costs  \n·Identifies who has the authority to approve changes to the project or its budget  \n·How cost performance is quantitatively measured and reported upon  \n·Report formats,frequency and to whom they are presented  \nFor the purposes of this plan,the cost management processes reflect the requirements for theproject's Implementation Phase,which commenced in July 2015.  \nThis plan will be supplemented by other components of the Project Plan including the Documentand Records Management Plan,Risk Management Plan,Contingency Management Plan,Schedule Management Plan,the Project Change Control Plan(where additional detail will bepresented on the development of cost and schedule baseline),and other management andcontrol systems for the Project.  \nAs a matter of principle,the management of costs is the responsibility of everyone on theproject team.However this plan provides a high level overview of the responsibilities of the keySite C project team members accountable for cost management.  \n\n| Document ID:  \u003Cbr>Document Owner;  \u003Cbr>Date on Document   | [1016.YM80004.4.Z.13.002]  \u003Cbr>[2016-06-30]-Commercially Sensitive   | Version:   | 01.00  \u003Cbr>Page 2 of 31   |\n| --- | --- | --- | --- |\n\nTable of Contents  \n1 Executive Summary…………………………………………………………………………………………………………………………2  \n2 Introduction……………………………………………………………………………………………………………………………………………………4  \n2.1 Purpose……………………………………………………………………………………………………………………………………………4  \n2.2 Terms and Definitions…………………………………………………………………………………………………4  \n2.3 Background…………………………………………………………………………………………………………………………………………5  \n3 Cost Management Approach………………………………………………………………………………………………………7  \n3.1 Estimate and Forecast Versions………………………………………………………………………………………………7  \n3.2 Cost Management Tools………………………………………………………………………………………………………8  \n4 Cost Control………………………………………………………………………………………………………………………………………………10  \n4.1 Project Cost Reporting……………………………………………………………………………………………………10  \n4.2 Roles and Responsibilities…………………………………………………………………………………………………14  \n4.3 Forecast Development…………………………………………………………………………………………………………15  \n4.4 Variance Analysis………………………………………………………………………………………………………………16  \n4.5 Accruals…………………………………………………………………………………………………………………………………………………19  \n4.6 Approvals……………………………………………………………………………………………………………………………………19  \n4.7 Journal Entries…………………………………………………………………………………………………………………………………19  \n4.8 WBS Maintenance…………………………………………………………………………………………………………………19  \n5 Organizational Interfaces……………………………………………………………………………………………………………23  \n6 Contingency Draws…………………………………………………………………………………………………………………………23  \n7 Budget Transfer…………………………………………………","cbCaia9xxm2ENg6C","https://ap.wps.com/l/cbCaia9xxm2ENg6C","pdf",2669296,32,"English","en",105,"# 1 Executive Summary\n# 2 Introduction\n## 2.1 Purpose\n## 2.2 Terms and Definitions\n# 3 Cost Management Approach\n## 3.1 Estimate and Forecast Versions\n## 3.2 Cost Management Tools\n# 4 Cost Control\n## 4.1 Project Cost Reporting\n## 4.2 Roles and Responsibilities\n# 5 Organizational Interfaces\n# 6 Contingency Draws\n# 7 Budget Transfer\n# 8 Finance\n# 9 IDC and In Service Assets\n# 10 Accounts Payable\n## 10.1 Invoice Processing\n## 10.2 Corporate Credit Card\n## 10.3 Expense Repor\n## 10.4 Local Purchase Order\n## 10.5 Payment Requisition\n# 11 Security(Financial Data)","[{\"question\":\"Who is responsible for managing costs under the plan?\",\"answer\":\"The plan states that the Cost Management Plan is managed by the Site C Finance Director or a delegate, with responsibilities assigned to key project team members for cost management.\"},{\"question\":\"What does the plan define regarding cost measurement, reporting, and control?\",\"answer\":\"It sets the format and standards used to measure, report, and control project costs throughout the lifecycle, including quantitative cost performance measurement and reporting.\"},{\"question\":\"How are changes to the project or budget approved?\",\"answer\":\"The plan identifies the authority responsible for approving changes to the project or its budget, and it specifies related control and reporting processes to support oversight.\"}]","Cost Management Plan - Executive Summary And Cost Control | 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is responsible for managing costs under the plan?","Question",{"text":124,"@type":125},"The plan states that the Cost Management Plan is managed by the Site C Finance Director or a delegate, with responsibilities assigned to key project team members for cost management.","Answer",{"name":127,"@type":122,"acceptedAnswer":128},"What does the plan define regarding cost measurement, reporting, and control?",{"text":129,"@type":125},"It sets the format and standards used to measure, report, and control project costs throughout the lifecycle, including quantitative cost performance measurement and reporting.",{"name":131,"@type":122,"acceptedAnswer":132},"How are changes to the project or budget approved?",{"text":133,"@type":125},"The plan identifies the authority responsible for approving changes to the project or its budget, and it specifies related control and reporting processes to support 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