Cost Control in Short : Part – 6: Project Cost Management
Monitoring, controlling, adjusting costs
When it is performed?
Over the whole life cycle. Bi-weekly or monthly analysis may be done
Tools
Cost Change Control System
How the cost baseline may be changed
Performance Measurement Analysis
Calculate Earned Value, Planned Value, Actual Cost, Estimate to complete, Estimate at Completion, Cost Performance Index and similar to measure performance and control costs based on these
Forecasting
Use current and previous cost values to estimate future costs
Variance Management
Output
Cost Estimate Update
Cost Baseline Update
Performance Measurement Analysis will be discussed later
From: http://sitestree.com/?p=11504
Categories:PMP – Project Management
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Post Data:2017-10-17 16:16:46
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