Ferguson heads the list after guiding Posh to the League 1 summit with four victories from their opening five fixtures.
Fleetwood manager Alexander and Bristol City boss Cotterill have their respective sides just a point further back in the early standings, with both teams yet to be beaten in league action.
Cook’s Chesterfield outfit are on the shoulders of the leading trio, having begun the campaign in style with a win away to Leyton Orient and then claiming three further successes.
Four further sides are represented in the Player of the Month contenders, with Bradford striker James Hanson and Barnsley midfielder Conor Hourihane both in the frame.
Preston winger Chris Humphrey and Coventry defender Reda Johnson complete the list with all four harbouring hopes of claiming the first prize of the new term.
Here, Sky Sports take a more in-depth look at those up for Manager of the Month gong:
Graham Alexander (Fleetwood Town)
Oversaw a wonderful start to Fleetwood’s first season in Sky Bet League 1. Cannily based his side’s approach on maintaining discipline at the back with just two goals conceded in five games which brought 11 points.
Steve Cotterill (Bristol City)
Set the tone for a convincing August by leading his side to an opening day 2-1 victory at Sheffield United. Three wins and two draws from five games have his players and the club’s supporters believing in a promotion push.
Darren Ferguson (Peterborough United)
Masterminded a flying start with four wins out of five to make light of the departure of last season’s leading scorer Britt Assombalonga. Fitted new boy Kyle Vassell seamlessly into the Posh attacking way to head Sky Bet League 1.
Paul Cook (Chesterfield)
Cook brought his side into the division and smoothed the transition in spite of some awkward fixtures. Inspired an opening day 2-1 success at Leyton Orient then went on to collect two more wins and a draw.
Sky Sports also casts an eye over those up for the Player of Month award:
James Hanson (Bradford City) - striker
Four goals in five games for the talismanic striker. Bradford have changed their style to more of a passing game but Hanson still brings booming headers to the cause with his aerial prowess and physicality. Two assists in August, too.
Conor Hourihane (Barnsley) –midfielder
The Irishman served up a personal goal of the month competition with stunning efforts against Coventry City, Gillingham and Yeovil Town. Just as vital was his headed goal-line clearance which preserved the 1-1 draw at Yeovil.
Chris Humphrey (Preston North End) – winger
The pacy winger gave Preston a direct threat, going past defenders and whipping in crosses. Made two goals and scored one in the 4-0 win at Scunthorpe and then struck a 20-yard thunderbolt in the draw at Doncaster Rovers.
Reda Johnson (Coventry City) – defender
Brought his colossal power to bear at the heart of the Coventry defence. Made captain on his arrival, his aerial presence was felt at both ends of the pitch. Scored twice at Bradford City and claimed an assist against Barnsley.