The Code of Professional Conduct states that a PMP has the "Responsibility to provide accurate and truthful representations to the public in advertising, public statements and in the preparation of estimates concerning costs, services and expected results." The key part of this statement that is new is the preparation of estimates. This is often a very difficult problem to handle and is something that sets apart a professional project manager.
The first task that a project manager must handle is ensuring that the correct Scope Statement is written. Even if no Charter is written, there must be a Scope Statement for the project to progress. This is where all the estimates start. The clearer the Scope Statement, the better the chance for making good estimates. All projects involve estimates because no project is exactly the same as another.
"Project Cost Management." The Code of Professional Conduct is not about how to do estimates but rather how to be professional in your work. On several occasions, I have been asked as a consulting project manager to look at estimates from outside vendors. Some vendors have a tendency to bid low and then, after receiving the contract for the work, immediately put in change requests. This type of conduct should not be happening if you are a PMP.