Explain the following key steps of the project cost management process. For each, state at which stage of the project life cycle it is used. a. Cost Estimation b. Budget Determination c. Spending Control Discuss the key purpose and objectives of budgeting in project management. Outline the main steps in the budgeting process for a project. Discuss why key performance indicators are used in budgeting and provide three examples of financial key performance indicators that can be used to determine the effectiveness of a budget. Explain the use of milestones in budgeting. Explain how to apply each of the following project cost management tools. For each tool, also describe its cost effectiveness and its accuracy. Analogous Estimating Parametric modelling Bottom-up estimating Explain the key procedures that should be followed in the event of a cost change process during a project. 8. Explain the four (4) stages of the project life cycle. 9. Discuss two (2) strategies to manage project costs effectively. 10. . Outline the processes / steps in project cost management. 11. Complete the table below: Description Provide two (2) examples Financial assets Liabilities Financial records