Want to keep your projects on budget? Let’s talk about controlling costs—one of the most critical skills for project managers.
Control Costs is the process of tracking and managing project expenses to ensure they align with the budget. You also update costs and handle any changes to the cost baseline.
Why is it essential? Because costs can spiral out of control quickly! Without managing costs, your project may face delays, budget overruns, or even failure.
How do you use it? Track expenses regularly. Compare actual costs to your budget. When changes happen, adjust your cost baseline and keep stakeholders informed.
Control costs and stay in command of your project’s success! Your team and your budget will thank you!
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