CHAPTER 8MANAGING COST
We now consider the fourth project objective, managing cost, by which the project manager ensures the project's product is financially viable and worthwhile. The next section considers the purpose of estimating costs, and shows how this leads to several types of estimate of increasing accuracy prepared at successive stages of the project life cycle. Later sections explain how the estimate is structured through the cost control cube, and describe several methods of preparing the estimate. Finally, we shall discuss how costs are controlled by comparing actual expenditure against the value of work done, and show how (S-curves) can provide a pictorial representation of this.
8.1 ESTIMATING COSTS
Over the next three sections ...
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