April 2010
Intermediate to advanced
272 pages
5h 23m
English
book
The Project Management Tool Kit: 100 Tips and Techniques for Getting the Job Done Right
by Tom Kendrick
Content preview from The Project Management Tool Kit: 100 Tips and Techniques for Getting the Job Done Right
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COST PROCESS16Cost Control (PMBOK® 7.3, Control Costs)
What: |
Monitoring project costs and managing use of project resources. |
When: |
Project execution and control. |
Results: |
A record of project costs, with plan adjustments as required to meet budget expectations. |
Determine Status and Analyze Variances
Cost control is central to project plan execution. It follows status collection and plan-variance analysis in the project-tracking cycle. It is necessary in any cycle where you discover a significant cost or effort variance, or your earned-value management measurements are over the limit. For each variance use cause-and-effect analysis to review its root cause and impact on the project timeline. If the root cause relates to individual or ...
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