[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-164858-en":3,"doc-seo-164858-105":30,"detail-sidebar-cat-1-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":11,"category_id":12,"category_name":13,"doc_title":14,"doc_description":15,"doc_content":16,"file_id":17,"file_url":18,"file_type":19,"file_size":20,"view_count":4,"is_deleted":4,"is_public":11,"is_downloadable":11,"audit_status":11,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":27,"seo_description":15,"update_tm":28,"read_time":29},164858,549768064622,"Lucas Vance","https://ap-avatar.wpscdn.com/davatar_6f874abed73319feea01a86fa6f0fab8",1,11,"Presentations","Cost-Management-plan-Harry-Vaughan - Cost Management Plan Template","Cost Management Plan for The Woodworks Factory Expansion defines how project costs are governed, measured, and reported over the project lifecycle. It assigns the Project Manager responsibility for cost reporting using earned value metrics and sets governance roles for budget change decisions. The plan establishes activity-level control accounts, contingency budgeting across project phases, variance thresholds, alert and corrective-action workflows, and the required reporting cadence and documentation format using an Excel-based earned value approach.","Project Cost Management Plan Template\nCost Management Plan\nThis Cost Management Plan is a Section of the Project Plan and should be incorporated into the plan. It has been produced as a separate document for asssessment purposes only.\nThe Woodworks Factory Expansion\nThe Woodworks (aka HUCK’s)\nDate 12th September 2020\nTable of Contents\n\u0013 TOC \\o \"1-3\" \\h \\z \\u \u0014\u0013 HYPERLINK \\l \"_Toc220723808\" \u0014Introduction\t\u0013 PAGEREF _Toc220723808 \\h \u00142\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc220723809\" \u0014Cost Management Approach\t\u0013 PAGEREF _Toc220723809 \\h \u00142\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc220723810\" \u0014Measuring Project Costs\t\u0013 PAGEREF _Toc220723810 \\h \u00143\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc220723811\" \u0014Reporting Format\t\u0013 PAGEREF _Toc220723811 \\h \u00145\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc220723812\" \u0014Cost Variance Response Process\t\u0013 PAGEREF _Toc220723812 \\h \u00145\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc220723813\" \u0014Cost Change Control Process\t\u0013 PAGEREF _Toc220723813 \\h \u00145\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc220723814\" \u0014Project Budget\t\u0013 PAGEREF _Toc220723814 \\h \u00145\u0015\u0015\n\u0015\n\u000fIntroduction\nThe Project Manager (I. Leadem) will be responsible for managing and reporting on the project’s cost throughout the duration of the project. During the monthly project status meeting, the Project Manager will meet with management to present and review the project’s cost performance for the preceding month; during this ‘earned value’ will be used to measure the performance of the project. Specifically, Leadem will be reporting to Snatchen Grabbit the Chief Financial Officer at Huck’s and Doug Deppa the Financial Controller at Huck’s, changes to the agreed upon $7 million budget will be decided upon by these two and the project sponsors at Huck’s.\nCost Management Approach\nCosts for this project will be managed at the second level (activity level) of the Work Breakdown Structure (WBS). Control Accounts (CA) will be created at this level to track costs.  Earned Value calculations for the CA’s will measure and manage the financial performance of the project.  Credit for work will be assigned at the activity level.  Work started on work packages will grant that work package with 50% credit; whereas, the remaining 50% is credited upon completion of all work defined in that work package.  Costs have been rounded to the nearest dollar.\nThe $1 million set aside for contingencies during the project has been budgeted at the first level of the WBS, the allocation to the 4 project phases has been calculated at a pro-rata rate for the estimated costs of each project phase.\nCost variances of +/10% in the cost and schedule performance indexes will be flagged during the monthly reporting by the project manager. Cost variances of +/- 20% in the cost and schedule performance indexes will trigger an alert to the sponsor team. The project manager will be required to present corrective action order to bring the cost and/or schedule performance indexes below the alert level.  Corrective actions will require a project change request and be must approved by the Project Sponsor before it can become within the scope of the project.\nMeasuring Project Costs\nProject costs performance will be captured and reported on using the following Earned Value metrics:\nSchedule Variance (SV)\nCost Variance (CV)\nSchedule Performance Index (SPI)\nCost Performance Index (CPI)\nDetails of each of these metrics are included within the appendix.\nCost reporting for the project will be achieved using an excel spreadsheet, this will assist in capturing Earned Value metrics. Earned Value metrics will be updated weekly based of a field report received every 7 days with progress updates on the completion of tasks at a work package level. This process will allow the project manager to accurately access budgeting issues as they arise and address them at the work package level.\nIf the Schedule Performance Index or Cost Performance Index has a variance of between 0.1 and 0.2 the Project Manager must report the reason for the exception.  If the SPI or CPI has a variance of greater than 0.2 the Project Manager must report the rea","cbCaioqtZtjv1aYm","https://ap.wps.com/l/cbCaioqtZtjv1aYm","docx",49245,7,"English","en",105,"# Introduction\n## Roles and responsibilities\n# Cost Management Approach\n## WBS, control accounts, and earned value\n## Contingency budgeting\n## Variance thresholds and corrective requests\n# Measuring Project Costs\n## Earned Value metrics (SV, CV, SPI, CPI)\n## Excel reporting and update cadence\n## Exception handling for CPI/SPI\n# Reporting Format\n## Monthly status reporting structure\n## Change requests and tracking\n# Cost Variance Response Process\n## Control thresholds (CPI/SPI)\n## Timeline for sponsor options and formal plans\n# Cost Change Control Process\n## Approval requirements for changes\n# Project Budget\n## Allocations and tracking","[{\"question\":\"Who is responsible for managing and reporting the project’s cost performance?\",\"answer\":\"The Project Manager is responsible for managing and reporting project costs throughout the project and presenting monthly earned value performance to management.\"},{\"question\":\"How are project costs measured and controlled?\",\"answer\":\"Costs are managed at the activity level of the WBS using control accounts. Earned value calculations for those control accounts track and manage financial performance.\"},{\"question\":\"What thresholds trigger alerts and corrective action?\",\"answer\":\"Cost variances of +/-20% in CPI/SPI trigger an alert to the sponsor team. Control thresholds are CPI or SPI less than 0.8 or greater than 1.2, which require a Cost Variance Corrective Action Plan.\"}]","Cost-Management-plan-Harry-Vaughan - Cost Management Plan Template | DOCX",1788162356,3,{"code":4,"msg":31,"data":32},"ok",{"site_id":24,"language":23,"slug":33,"title":14,"keywords":34,"description":15,"schema_data":35,"social_meta":86,"head_meta":88,"extra_data":90,"updated_unix":28},"cost-management-plan-harry-vaughan-cost-management-plan-template","",{"@graph":36,"@context":85},[37,53,68],{"@type":38,"itemListElement":39},"BreadcrumbList",[40,44,48,50],{"item":41,"name":42,"@type":43,"position":11},"https://docshare.wps.com","Home","ListItem",{"item":45,"name":46,"@type":43,"position":47},"https://docshare.wps.com/template/","Template",2,{"item":49,"name":13,"@type":43,"position":29},"https://docshare.wps.com/template/presentations/",{"item":51,"name":14,"@type":43,"position":52},"https://docshare.wps.com/template/cost-management-plan-harry-vaughan-cost-management-plan-template/164858/",4,{"url":51,"name":14,"@type":54,"author":55,"headline":14,"publisher":57,"fileFormat":60,"inLanguage":23,"description":15,"dateModified":61,"datePublished":62,"encodingFormat":60,"isAccessibleForFree":63,"interactionStatistic":64},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":41,"name":58,"@type":59},"DocShare","Organization","application/vnd.openxmlformats-officedocument.wordprocessingml.document","2026-09-02","2026-08-31",true,{"@type":65,"interactionType":66,"userInteractionCount":52},"InteractionCounter",{"@type":67},"ViewAction",{"@type":69,"mainEntity":70},"FAQPage",[71,77,81],{"name":72,"@type":73,"acceptedAnswer":74},"Who is responsible for managing and reporting the project’s cost performance?","Question",{"text":75,"@type":76},"The Project Manager is responsible for managing and reporting project costs throughout the project and presenting monthly earned value performance to management.","Answer",{"name":78,"@type":73,"acceptedAnswer":79},"How are project costs measured and controlled?",{"text":80,"@type":76},"Costs are managed at the activity level of the WBS using control accounts. Earned value calculations for those control accounts track and manage financial performance.",{"name":82,"@type":73,"acceptedAnswer":83},"What thresholds trigger alerts and corrective action?",{"text":84,"@type":76},"Cost variances of +/-20% in CPI/SPI trigger an alert to the sponsor team. Control thresholds are CPI or SPI less than 0.8 or greater than 1.2, which require a Cost Variance Corrective Action Plan.","https://schema.org",{"og:url":51,"og:type":87,"og:title":14,"og:site_name":58,"og:description":15},"article",{"robots":89,"canonical":51},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":92},[93,96,101,106,111,116,121,126,131],{"id":12,"doc_module":11,"doc_module_name":46,"category_name":13,"show_sort_weight":94,"slug":95},90,"presentations",{"id":97,"doc_module":11,"doc_module_name":46,"category_name":98,"show_sort_weight":99,"slug":100},12,"Resumes",80,"resumes",{"id":102,"doc_module":11,"doc_module_name":46,"category_name":103,"show_sort_weight":104,"slug":105},14,"Invoices",70,"invoices",{"id":107,"doc_module":11,"doc_module_name":46,"category_name":108,"show_sort_weight":109,"slug":110},15,"Posters",60,"posters",{"id":112,"doc_module":11,"doc_module_name":46,"category_name":113,"show_sort_weight":114,"slug":115},16,"Social Media",50,"social-media",{"id":117,"doc_module":11,"doc_module_name":46,"category_name":118,"show_sort_weight":119,"slug":120},17,"Forms",40,"forms",{"id":122,"doc_module":11,"doc_module_name":46,"category_name":123,"show_sort_weight":124,"slug":125},18,"Letters",30,"letters",{"id":127,"doc_module":11,"doc_module_name":46,"category_name":128,"show_sort_weight":129,"slug":130},21,"Paper Templates",5,"papers-templates",{"id":132,"doc_module":11,"doc_module_name":46,"category_name":133,"show_sort_weight":4,"slug":134},158,"General","general-158"]