How Can Overlooking Project Cost Management Be Detrimental to Completing Projects within Budget?


In order to be able to complete a project within the budget of the entire project you must manage your costs along the way and stay within the budget for each segment of the project. Budget management means knowing where you are along the way, how much has been spent and how much you have left to work with. If you over spend on one area of the project you will have time to decide how you will cut the costs in other areas. Without managing and watching what is being spent you may wind up spending the whole budget halfway through the project and that would be detrimental to the project.
Q&A Related to "How Can Overlooking Project Cost Management..."
Opinions may vary. Some project managers have the ability to shell out their own resources to ensure these three (3) constraints are dealt with.
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You want an excuse why the geeks say your project was over budget? Tech guys and gals don't understand the nuances involved in calculating costs, particularly indirect costs; so many
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