Control Costs Process

control cost

What’s better than studying a topic only to realize you already know it! That’s exactly what you’ll feel like when we discuss the Control Costs process. But the caveat is, you should have already gone over the Project Selection Techniques playlist which we have also linked on the Cost Management page as well as the Earned Value Management video

Let’s first review where we are,

control costs process in the pg ka mapping - Control Costs Process

Control Costs is the process of monitoring the status of the project to update the project budget and manage changes to the cost baseline.

Note that any increase to the authorized project budget can only be approved through the perform integrated change control process.

Now in the beginning we did mention how you should already know this process and that is because you already know all the inputs, tools and techniques and the outputs of this process covered in our previous articles. Earned Value Management is the most important technique of this process which we have already discussed

Work Performance Information, also something that we have already covered in the past, is one of the most important outputs of this process.

Check more articles on Cost Management

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