<COMPANY OR PROJECT LOGO>

<PROJECT NAME>
<PROJECT REFERENCE>

COST MANAGEMENT PLAN

VERSION <1.0>

<DD/MM/YYYY>

stakeholdermap.com
 COST MANAGEMENT PLAN

DOCUMENT CONTROL

DOCUMENT INFORMATION

Information

Document Id [Document Management System #]

Document Owner [Owner Name]

Issue Date [Date]

Last Saved Date [Date]

File Name [Name]

DOCUMENT HISTORY

Version Issue Date Changes

[1.0] [Date] [Section, Page(s) and Text Revised]

DOCUMENT APPROVALS

Role Name © Signature Date

Project Sponsor

Project Review Group

Project Manager ©

Quality Manager

(if applicable)

stakeholdermap.com i
 COST MANAGEMENT PLAN

Procurement Manager

(if applicable)

Communications Manager

(if applicable)

Project Office Manager

(if applicable)

stakeholdermap.com ii
 COST MANAGEMENT PLAN

Table of Contents
<PROJECT NAME>.................................................................................................................................................................... I

<PROJECT REFERENCE>........................................................................................................................................................... I

COST MANAGEMENT PLAN.............................................................................................................................I

Version <1.0> i

<dd/mm/yyyy> i

DOCUMENT CONTROL.............................................................................................................................................I
DOCUMENT INFORMATION....................................................................................................................................................... I

DOCUMENT HISTORY............................................................................................................................................................... I

DOCUMENT APPROVALS.......................................................................................................................................................... I

TEMPLATE GUIDE...................................................................................................................................................1
COST UNITS OF MEASURE..............................................................................................................................2
ORGANISATIONAL PROCEDURE LINKS.....................................................................................................2
PROJECT COST TOLERANCES.......................................................................................................................2
RULES OF PERFORMANCE MANAGEMENT..............................................................................................................3

COST REPORTING AND FORMAT.................................................................................................................3

ADDITIONAL DETAILS.....................................................................................................................................3
DOWNLOAD MORE PROJECT TEMPLATES................................................................................................................4

stakeholdermap.com iii
 COST MANAGEMENT PLAN

TEMPLATE GUIDE
How to use this template

This is a guide to the common sections included in a Procurement management plan. Sections may
be added, removed, or amended to suit your project. Example tables have been added (where
relevant) these are just a suggestion; you may decide to format these sections differently.

Text in Blue italics is designed to assist you in completing the template. Delete this text before sharing
the final document.

stakeholdermap.com 1
 COST MANAGEMENT PLAN

COST UNITS OF MEASURE

<Indicate how each type of resource will be measured. For example, labor units may be measured in
staff hours, days, or weeks. Physical resources may be measured in gallons, meters, tons, or
whatever is appropriate for the material. Some resources are based on a lump sum cost each time
they are used.>

Resource/Deliverable Units of Measure Level of Precision Level of Accuracy

ID and name

Consulting team Day rate from consulting Logged at a min +/- 2 days start up, refined
rate card of 30 minutes to +/-1 day following
design stage

3rd party suppliers Fixed Fee. Any change Fixed amount. Assume supplier has
orders expressed in Pending change ensured accuracy to meet
days. orders. fixed fee.

Phones Cost per phone & Exact Exact for next 6 months
monthly contract fee

ORGANIZATIONAL PROCEDURE LINKS

<Describe how the cost estimating, tracking, and reporting will align with the project Work Breakdown
Structure, requirements traceability matrix, along with the organization’s cost codes, and account
procedures. For example,>

The project costs will be tracked in the Project Management Cost Tracking software which links
directly to the project team timesheets. The costs will be broken down by work package with the
following fields captured for each element.

Customer > Project >

Unique Key > Work Package name > WBS ID > Cost Code >

PROJECT COST TOLERANCES

<Document the project tolerances. These are the points at which action will need to be taken to
correct a variance from the budget. For example,>

stakeholdermap.com 2
 COST MANAGEMENT PLAN

See more on Project Tolerances.

RULES OF PERFORMANCE MANAGEMENT

<Put simply describe how costs will be tracked against the budget. For example, what level of the
WBS will be used to record costs and how progress against budget will be measured. If Earned Value
Management is being used describe or link to the method your organization uses.>

COST REPORTING AND FORMAT

<Describe how costs will be reported and when. For example,

Costs will be recorded daily in Monday.

Dashboards will be used for project team reporting:

Costs will be exported from Monday and reported weekly to the Customer and Project Board on the
Project Status Report.

Any variances over project tolerance will be reported to the PMO as well as to the relevant approver.

stakeholdermap.com 3
 COST MANAGEMENT PLAN

ADDITIONAL DETAILS
<Enter any additional information about how costs will be managed on the project. For example,

 The funding choices made and why.

 Management of currency exchange rate fluctuations.

 The currency used to manage the project.

 Currency used for the organization’s financial books. For example, the project costs might be
invoiced in GBP, but globally reported in USD using a fixed exchange rate.>

stakeholdermap.com 4
 COST MANAGEMENT PLAN

DOWNLOAD MORE PROJECT TEMPLATES

Microsoft Project Plans – real world project plans in Microsoft Project.

Project Management Templates – All of our FREE project management templates in Word
and Excel

PMBOK Management Plans

Change Management Plan

Project Management Plan

Schedule Management Plan

Scope Management Plan

Risk Management Plan

20 Common Project Risks

stakeholdermap.com 5