In project management, which knowledge area involves planning, estimating, budgeting, and controlling financial resources to ensure a project is completed within its approved budget?
Quality Management
Cost Management
Resource Management
Schedule Management
Cost Management focuses on handling all aspects related to the project's finances, ensuring that the project is completed within the approved budget. It encompasses processes like cost estimation, budgeting, and cost control. While Quality Management ensures the project's deliverables meet the required standards, it does not deal with financial resources. Schedule Management focuses on timely completion, and Resource Management deals with managing all project resources but not specifically the financial aspects.
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