What is Cost Control in Project Management?
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Guide overview
Advanced Terminology
What is Cost Control in Project Management?
Cost control is the task of overseeing and managing project expenses and preparing for potential financial risks. This is typically the project manager's responsibility. Cost control involves managing the budget, as well as planning, and preparing for potential risks. Risks can set projects back and sometimes even require unexpected expenses. Preparation for these setbacks can save your team time and potentially, money.
Further reading:
- Three Ways to Minimize Your Project Budget Exposure
- Top 5 Reasons for Project Failure and How to Avert Disaster
- Project Management Basics: 6 Steps to a Foolproof Project Plan