A Comprehensive Guide to Project Management Schedule and Cost Control: Methods and Models for Managing the Project Lifecycle

11. Schedule and Cost Monitoring

Introduction

Depending on the size and complexity of a project, it can take on characteristics that define larger components of the project management plan. They include the development of the project schedule and budget during the initiating and planning processes versus the amount of time spent during the execution process on actual work activities. For some projects, the initiating and planning processes may take several months or years, whereas the overall time span for work activities in the execution process is very short. In other cases, the initiating and planning processes may be relatively short, but the time span for each work activity is drawn out over several years because of exhaustive and labor-intensive ...