Cost planning for snow-plow fleet telematics includes software licenses, installation labor, and contingency—not only the hardware sticker price. Why is that approach sound?
Select an answer to reveal the explanation.
Short Explanation
Buying only the gadgets and forgetting licenses, install hours, and a cushion is how projects 'come in under budget' on paper and blow up in real life. Cost planning adds up the whole cart.
Full Explanation
Effective cost planning aggregates the categories that will actually be incurred—hardware, licenses, labor, and appropriate contingency or reserves as applicable—into estimates and a budget baseline. Using sticker price alone understates need and weakens variance control later. Including the full relevant mix supports funding requests and monitoring. That completeness is central to the purpose of cost planning at CAPM depth.