The Definitive Guide to Project Management: The fast track to getting the job done on time and on budget (2nd Edition)

The PMBOK approach to project cost management distinguishes three processes within it. Table 7.3 shows where these fall within the five project management process groups.

In practice, these three processes often run in parallel. For instance, once the project is underway there will be a constant need to re-estimate and re-budget costs as a result of changes and new information which arise during project execution, alongside the cost control process.