9.7 Project resources and costing

Project resources refer to the personnel, equipment, materials, and other assets that are required to complete a project. Effective resource management involves identifying the resources required for the project, determining the best ways to acquire them, and allocating them in a manner that supports the project schedule and budget.

Project costing refers to the process of estimating and managing the financial resources required to complete a project. This includes determining the costs of personnel, materials, equipment, and other project expenses, as well as developing a budget and tracking actual expenditures against the budget.