Controlling Costs: The Process of Keeping Project Costs in Check

Описание: The Control Costs process is vital for monitoring and maintaining the approved Cost Baseline once project execution begins. This involves continuously tracking actual costs against the time-phased baseline and managing cost variances that exceed pre-defined control thresholds, often requiring a change request to update the baseline. A key technique used in this process is Earned Value Management (EVM), which uses four fundamental metrics for performance measurement: Budget at Completion (BAC) (the total budget), Planned Value (PV) (the budget expected to be spent by a status date), Earned Value (EV) (the approved budget for the work actually completed), and Actual Cost (AC) (the money recorded as spent).
10/13 lesson: Control Costs (Cost Management) PMP course

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