The cost buffer accounts for variation in project task cost. You should estimate it using methods similar to sizing the Project time Buffer, but consider all tasks in the project as cost does sum for all tasks in the project. The cost buffer requires a variational element and a bias element.

(Stevens Institute of Technolgy NASA Strategic Multi-Project Resource Management “CC-Lite” page)

J. Jerrald Hayes
I am ex-architectural woodworker and general contractor turned IT, Business and Project Management consultant, software developer wannabe senior division triathlete and ski racer, Yankee fan and founder of Paradigm-360.com, 360 Difference Mac4Construction.com,iOS4Construction.com and now TheBuildingAndRemodelingWiki.com too.
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