Hollywood Secrets of Project Management Success

Benefits of Managing Through Measures

Simply put, the best way to control a budget is to pay attention to it. And the best way to pay attention to it is by careful analysis of the numbers that go into it and spring out of it. Reports that summarize such activity will be useful to many stakeholders across the life of the project. But through this concentrated focus on budget management, project management and upper organizational management should realize a set of specific benefits, ones that not only target their capacity to control spending in the present but help to more accurately forecast spending commitment in the future. Here are four of these benefits:

• Meaningful status reporting. A red, orange, or green status indicator on a status report ...