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Great Lessons in Project Management by David Pratt

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COST MANAGEMENT   10

Never Lose Track of the Money

The project team left the project closeout meeting with the client in high spirits. The project had come in on schedule and on budget, and had even won some awards. For a small project of its kind, with a budget of just under $1.5 million, the effort had seemed over nearly as soon as it had started for the nine team members.

The group agreed to meet to celebrate at a local watering hole not far from the consulting firm’s main office. As the project manager reached for her coat, the project sponsor, a partner at the firm and the project manager’s long-time mentor and friend, congratulated ...

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