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9 Amazing Ways Of Controlling Project Costs

In my previous article, I have talked about some of the ways of determining costs for projects. In this article, I want to talk about some of the ways of controlling project costs. Follow me as we look at that together in this article.

 

 

Control costs is the process of monitoring the status of the project costs and managing changes to the cost baseline. The key benefit of this process is that the cost baseline is maintained throughout the project. This process is performed throughout the project. 

 

Also, updating the budget requires knowledge of the actual costs spent to date. Any increase to the authorized budget can only be approved through the Perform Integrated Change Control process. Monitoring the expenditure of fund without regard to the value of work being accomplished for such expenditures has little value to the project, other than to track the outflow of funds. 

 

Most of the effort of cost control involves analysing the relationship between the consumption of project funds and the work being accomplished for such expenditures. The key to effective cost control is the management of approved cost baseline. 

 

Project cost control includes: 

9 Amazing Ways Of Controlling Project Costs

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