Costs Estimates Analysis

Please stick to the number of pages asked!!
Part 1  (1 page )
    Explain some of the basic principles of cost management, such as profits, life-cycle costs, tangible and intangible costs and benefits, direct and indirect costs, and reserves. For additional insights, provide professional experiences that support your explanation.
As a project manager, you are responsible for preparing project cost estimates. The three most popular estimation techniques are:
    Rough order of magnitude (ROM).
    Budgetary estimate.
    Definitive estimate.
Part 2 ( 2 pages only)
Conduct a research analysis of the following cost management elements:
    Units of measure.
    Level of precision.
    Level of accuracy.
    Performance measurement.
    Control thresholds.
    Documentation.
    Reporting.
Develop a 2-page summary report of the following:
    A description of each element.
    Specific examples for each element.
    The importance to project success for each element.
Be sure to include references.
Part 3 (next steps on project see attach file)
Cost Management Measurements
The development of a project cost management plan can include many types of format including utilizing basic cost components for smaller projects to utilizing a highly comprehensive format that includes detailed explanations of several types of cost elements.
Cost Management Elements:
    Units of Measure
    Level of precision
    Level of accuracy
    Performance measurement
    Control thresholds
    Documentation
    Reporting

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