The standard for project management

Cost management plan. 

Described in Section 7.1.3.1. Changes to the cost management plan, such as changes 

to control thresholds or specified levels of accuracy required in managing the project’s cost, are incorporated in 

response to feedback from relevant stakeholders.

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Cost baseline.

 Described in Section 7.3.3.1. Changes to the cost baseline are incorporated in response to 

approved changes in scope, resources, or cost estimates. In some cases, cost variances can be so severe that a 

revised cost baseline is needed to provide a realistic basis for performance measurement.

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