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TOPIC: Determine Budget & Procurements - Order of events

Determine Budget & Procurements - Order of events 3 days 1 minute ago #22622

  • Luke H
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I'm a little confused over the order of events for determining the project budget, specifically in the event where the project may need to source sellers via Procurement processes.

From what I understand, the PMBOK outlines the process as follows:

- Estimate Costs are derived from Project Schedule and Resource Activity Estimates (but has no input from Procurement Management processes).
- Plan Procurement Management updates the Cost Estimates document as one of its outputs - (which is output in the Estimate Costs process).
- Determine Budget uses the Cost Estimates document as an input.

But because the Estimate Costs process has no input from Procurement process (initially), how is the PM supposed to determine the budget if the project requires third party input?

I feel like I'm missing something? :blink:
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