Controlling the Project Cost

Have you ever noticed that it's usually easier to get more time than money for your projects? Management dreads hearing that a project will cost more due to errors and variances. This process aims to prevent cost overruns and control the expenses within a project. There are many inputs for this process:

• Cost baseline

• Project funding requirements

• Performance reports

• Work performance information

• Approved change requests

• Project management plan

Chapter 7 is all about managing project costs, including creating cost estimates and budgets. Here are the outputs of cost control:

• Cost estimate updates

• Cost baseline updates

• Performance measurements

• Forecasted completion

• Change requests

• Recommended corrective actions

• Organizational process asset updates

• Project management plan updates

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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