Part B: Cost and Quality Management Plan Name of University Author

Running head: ST DISMASS
Part B: Cost and Quality Management Plan
Name of Student
Name of University
Author Note

1
ST DISMASS
Table of Contents
1. Cost Management Planning.............................................................................................2
1.1. Introduction...............................................................................................................2
1.2. Cost Reporting and Format of Cost Reporting.........................................................2
1.3. Cost Estimation.........................................................................................................3
1.4. Cost Planning Process Management.........................................................................7
1.5. Conclusion................................................................................................................7
2. Quality Management Planning........................................................................................9
2.1. Introduction...............................................................................................................9
2.2. Need of Quality Management Planning...................................................................9
2.3. Roles and Responsibilities........................................................................................9
2.4. Quality Planning Approach....................................................................................10
2.5. Quality Assurance Approach..................................................................................11
2.6. Quality Control Approach......................................................................................11
2.7. Quality Improvement Approach.............................................................................11
2.8. Conclusion..............................................................................................................12
References..........................................................................................................................13

2
ST DISMASS
Part B: Cost and Quality Management Plan
1. Cost Management Planning
1.1. Introduction
Cost management planning refers to the standard process of allocation and controlling the
cost of a project. This process is essential to predict the project expenses and plan the project
expenses in an accurate manner to ascertain that the project does not go over-budget (Harrison,
& Lock, 2017). Detailed cost estimation of the St. Dismas project is needed to be made to
ascertain that the project is accomplished within the set budget. In the following section, the
format of cost reporting, cost estimation and process of project monitoring is discussed.
1.2. Cost Reporting and Format of Cost Reporting
Detailed cost reporting for the St. Dismas is needed to keep a check on the expenditure
and the cash flow associated with the project. Use of reliable cost estimates is needed to be
included in the planning to eliminate the cases of cost variations. Cost estimate for the St.
Dismas project is prepared on basis of the preliminary project budget (Lock, 2017). However,
the CFO of the St Dismas project is quite concerned about the lack of experience of the project
team in development of a project budget and therefore, appropriate cost reporting in this project
becomes a necessity.
Cost reporting is mainly described as a process that is used to inform the client about the
actual project cost. Since the budget estimation is done by an inexperienced team, the cost
reporting for the St. Dismas project is to be carried out at a regular interval.

3
ST DISMASS
The format that will be followed for reporting the cost of the project at regular interval
will include the overall budget of the project phases, the price of the materials, laborers and the
equipment cost (Cheng, 2014). This will provide the project team and the clients a detailed idea
of the total expenditure in a project. The regular cost reporting will be documented and will be
shared with the associated stakeholders.
1.3. Cost Estimation
The parametric cost estimation for the St Dismas project is indicated in the table below-