Controlling costs surely is a very important process in project management and one of the first responses when asking people’s opinion about a project manager’s role. While cost control certainly indeed is very important, it is only a part of cost management. Without other management areas not equally taken care of, cost management will never succeed. This article is about how to manage project cost the right way and covers the following processes: Planning cost management, Estimating project cost, Determine project budget, and Controlling project cost. Knowledge Areas in Project Management The image shows the knowledge areas covered by Project Managers. The percentages are a resultRead More →