Microsoft® Office Project 2007 Inside Out

Monitoring and Adjusting Costs

If your project is primarily constrained by budget, you’ll want to keep a close eye on the resource and task costs, and on estimated costs for the project as a whole. You’ll also want to adjust your project plan if you receive any actuals that are likely to blow the budget.

Project Management Practices: Cost Control

Cost control enables a project to stay within the bounds of the prescribed project budget. It involves continual monitoring of the project plan, tracking actual work and cost information, and taking corrective action where needed. If a task early in the project costs more than expected, costs might have to be trimmed in later tasks. In addition, outside forces might affect the project budget. For example, ...