Chapter 3. Project Cost Control
This chapter covers the following topics:
Understand project cost control: Total project cost, expenditure tracking and reporting, burn rate, cost baseline/budget (plan versus actual), and cost control calculations (including EVM, EAC, ETC, and TCPI).
One of the main limitations for a project is the budget, established during the project’s Planning phase. The project manager is responsible for tracking the budget throughout the project. If the budget is insufficient for completing the project, the project manager will have to ask the project sponsor to provide more funds. Project managers therefore must understand ...
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