Estimating costs
The good news about this section is that everyone is aware of money and how budgeting works for their day-to-day lives. It's entirely possible that you will not be managing a budget for your current projects, and if you are, it may only be for the acquisition of materials and equipment.
The PMP® exam assumes you will be doing some budgeting for project work, and that you will be tracking budgetary performance throughout the project.
Estimating costs is not just about what things cost but whether there are alternatives that can be discovered for the good of the project. This means that if one thing costs more than the project would like to spend, is there an alternative we can use to help protect the budget? Replacements can be a dangerous game if you have ever cut corners on costs and gotten exactly what you have paid for. That dance is consistent in cost management and is also present in procurement management as well.
What does your organization...
