16

Project Time and Cost Management

CHAPTER COVERAGE
16.1  INTRODUCTION

The backbone of project management is the ability to plan the project activities, resources, and cost accurately, and then control the schedule and the cost to meet the specified time and cost goals. Project time management includes the processes required to manage timely completion of the project, whereas the cost management deals with managing the completion within budget.

16.2  TIME MANAGEMENT

The sequence of activities that need to happen for creating and maintaining a proper project schedule are as follows:

  1. Define activities: The process of defining the work (activities) that must be performed to meet project ...

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