An effective cost management plan includes which phases' costs?

An effective cost management plan includes which phases' costs?

• A. Costs Associated with Post-Construction Phases
• B. Costs Associated with Design and Procurement
• C. Costs Associated with Construction and Post-Construction
• D. Costs Associated with Design, Procurement, Construction and Post Construction Phases

Answer: (D)

Costs occur in every phase of a project, so a robust cost management plan must cover all phases—from design through procurement, construction, and post-construction. Early-phase costs affect feasibility and value, construction costs drive the majority of the budget, and post-construction costs influence the total life-cycle cost through operations, maintenance, and warranties. Leaving out any phase risks underestimating total cost and losing budget control, so the plan should address costs across design, procurement, construction, and post-construction.

Costs occur in every phase of a project, so a robust cost management plan must cover all phases—from design through procurement, construction, and post-construction. Early-phase costs affect feasibility and value, construction costs drive the majority of the budget, and post-construction costs influence the total life-cycle cost through operations, maintenance, and warranties. Leaving out any phase risks underestimating total cost and losing budget control, so the plan should address costs across design, procurement, construction, and post-construction.