The total scheduled cost for a summary task, normal task, resource, or assignment or for an entire project. This is sometimes referred to as the current cost, or budget. Cost can be simply a fixed cost for a task, or it can also include costs incurred as a result of measurable work.
The cash value of project activity.
Cost can be divided into internal and external expenses. External costs can be controlled by contracts and budgets for each phase of a project and for each deliverable or work product. Internal cost is the cost of project resources.