Project Management Maturity Model, 3rd Edition

78 ◾ Project Management Maturity Model

Cost Control

A documented process details publishing and distribution of

cost reports. Periodic cost reports are developed at the sum-

mary level and provided to key stakeholders. Summary cost

reports are produced from an integrated system.

Basic cost metrics (planned budget and percent complete)

are collected and reported. A documented process is in place to

manage and control costs and the concept of cost change con-

trol is introduced. The process includes items such as cost status

reporting, change control forms, change logs, and issueslogs.

Baselines are established in line with the project schedule,

but may change frequently. Summary and detailed cost reports

are developed and provided to key stake ...