Once your budget is planned and allocated across your work packages, it is critical to monitor and control your project's cost. Why is monitoring and controlling the project cost important for the success of the project? What are some key components to monitor the health of the project, as it relates to earned value? How is earned value management different than straight financial accounting?
Monitoring and controlling project cost is important because often a project is allocated a certain budget, and controlling project cost might be a deciding factor in doing this. Key components to monitoring the ...
This solution contains an analysis of monitoring and controlling a project cost, together with earned value management and straight financial accounting.