Project Cost Management focuses on planning, estimating, budgeting, financing, funding, managing, and controlling costs to complete a project within the approved budget. This knowledge area includes processes such as cost estimation, cost baseline creation, and ongoing cost control. Effective cost management ensures financial predictability, supports informed decision-making, and helps avoid budget overruns. Essential for project managers aiming to deliver maximum value while maintaining financial discipline throughout the project lifecycle.
One of the most common problems in projects is exceeding timelines and budgets. You could even argue that failed projects don’t truly exist — there are only those whose deadlines stretch into infinity, and whose budgets have already run out. Notably, both the client and the contractor suffer from missed deadlines. The client doesn’t get […]
Project Estimation: Staying on Budget and Schedule Read More »
In modern management, a wide range of processes and functions fall under the umbrella of effective governance. However, during periods of economic downturn, new priorities emerge that force leaders to rethink how they operate: Managers working under economic stress must incorporate approaches drawn from crisis management, strategic management, project management, and risk management simultaneously. Here are 14 key ways to
Project Cost Optimization: Strategies for Crisis and Growth Read More »
