Project Cost Control

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

Thanks so much Raviraj for your comprehensive reply

have a very good day

Thnx All

Cost control - Job of every memeber of the supervisory staff on the project and no doubt some would argue below that level as well.