A component of a project or program management plan that describes how costs will be planned, structured, and controlled.

The process of comparing the planned expenditure of project funds against any limits on the commitment of funds for the project to identifyany variances between the funding limits and the planned expenditures.

Time or money allocated in the schedule or cost baseline for known risks with active response strategies

A reserved for unforeseen work that is within the scope of the project.

The approved version of the time-phased project budget, excluding any management reserves, which can be changed only through formal change control procedures and is used as a basis for comparison to actual results

It is the cost baseline plus management reserves