The tools and techniques of the Control Costs process are as follows:
■ Earned value measurement (EVM)
■ To-complete performance index (TCPI)
■ Performance reviews
■ Variance analysis
■ Project management software
We'll look at each of these next with the exception of project management software. This output has been discussed previously, but you should know that in this process it can help automate and calculate the formulas we're going to examine next. It can also display the results in graphical form for status reporting purposes.
Was this article helpful?
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.