What is a Cost Management Execution Process? Costs (or "expenses") are recorded by team members, using Expense Forms. These forms are reviewed and approved by the Project Manager, prior to the expense items being purchased.
A Cost Management execution Process helps you control expenses within an organization. By executing the Project Cost Management , you can ensure that all expenses are approved before they are paid. Using this project Cost Management process, you can ensure that your project is delivered within budget.
When do I use a Cost Management Execution Process? : If you want to control the way that expenses are incurred, then you need to implement a Cost Management. It will help you to control project expenses, ensuring that only expenses which have been approved, may take place. Using this Cost Management process, you can also keep your project plan up-to-date with the latest expense information available.
This project cost management execution process will help you to:
A Cost Management execution Process helps you control expenses within an organization. By executing the Project Cost Management , you can ensure that all expenses are approved before they are paid. Using this project Cost Management process, you can ensure that your project is delivered within budget.
When do I use a Cost Management Execution Process? : If you want to control the way that expenses are incurred, then you need to implement a Cost Management. It will help you to control project expenses, ensuring that only expenses which have been approved, may take place. Using this Cost Management process, you can also keep your project plan up-to-date with the latest expense information available.
This project cost management execution process will help you to:
- Identify each of the costs within your project
- Ensure that expenses are approved before purchasing
- Keep a central record of all costs incurred
- Control the overall cost of your project
- Determine whether your expenses were adequately budgeted
- Monitor and control instances of over-spending
- Gain special approvals for extra-ordinary expenses
- Schedule expense payments and invoice approvals
- Keep your project and financial plans up-to-date
