The budget processes related to the project include estimating the cost of all the little parts.

Methods to estimate the cost of the project.

• Use historical data. Track and analyze a project similar to yours, which have been developed in the market over the past years.
• Determine the resource costs. Track the costs of the goods and labor that are going to be used on a per-unit basis.
• Use different parameters. Measure different stats from the old and new data found in previous and on-going projects.
• Use bottom-up approach. Track the lowest to highest budgets spent on previous projects.

Other methods for budget estimation are vendor bid, reserve, and quality analysis.

In recent years, constraints beyond the triple constraint factor have been discovered. They are:

• Quality. The project should be developed according to the quality agreed in the project scope.
• Risk. Risk and scope creeps are "silent" killers ...