Project Cost Control
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Cost control - Job of every memeber of the supervisory staff on the project and no doubt some would argue below that level as well.
Thanks so much Raviraj for your comprehensive reply
have a very good day
Thnx All
Cost control of project includes:
- Influencing the factors that create changes to the cost baseline
- Ensuring requested changes are agreed upon
- Managing the actual changes as and when they occur
- Monitor cost performances ro detect and understand cost variances
- acting to bring expected cost overruns within acceptable limits
Tools that can be used are:
- Cost change control system that is documented in the cost management plan, defines the procedures by which cost baseline can be changed.
- Earned Value Analysis
- Forecasting
- Variance Analysis
- Trend Analysis
- Through P3
Hope this shud b sufficient
Cheers,
Raviraj A Bhedase