According to the PMBOK® Guide, Work Performance Data consists of the raw observations and measurements identified during activities being performed to carry out the project work. In the context of Project Cost Management, this data is a primary input to the Control Costs process.
Relationship between Data and Process: Work performance data includes information about project progress, such as which deliverables have started, their progress, and which costs have been incurred (actual costs) versus the work performed (earned value).
The Control Costs Process: This is the process of monitoring the status of the project to update the project costs and managing changes to the cost baseline.
Transformation of Data: During the Control Costs process, this raw Work Performance Data is analyzed and compared against the cost baseline to produce Work Performance Information (such as $CV$, $SV$, $CPI$, and $SPI$). This information communicates how the project is actually performing financially compared to the plan.
Inputs to Control Costs:
Project Management Plan (Cost Baseline, Cost Management Plan).
Project funding requirements.
Work Performance Data.
Organizational Process Assets.
Analysis of Other Options:
A. Plan Cost Management: This is a planning process used to define how the project costs will be estimated, budgeted, managed, monitored, and controlled. It uses the Project Charter and Project Management Plan as inputs, not performance data from execution.
B. Estimate Costs: This process involves developing an approximation of the monetary resources needed to complete project work. It relies on the scope baseline, project schedule, and human resource requirements.
C. Determine Budget: This process aggregates the estimated costs of individual activities or work packages to establish an authorized cost baseline. It occurs during planning, before work performance data is generated.
