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Lære Controlling Costs Through Budgeting, Tracking, and Reporting | Execution Phase
Project Management
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Kursusindhold

Project Management

Project Management

1. Fundamentals
2. Initiation Phase
3. Planning Phase
4. Execution Phase
5. Closure Phase

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Controlling Costs Through Budgeting, Tracking, and Reporting

Four Benefits of Controlling Costs

A project's success depends on how well costs are managed. Every expenditure must be accounted for, controlled, and compared to your original projections. Here are four core benefits of controlling costs:

Creating a Project Budget

So, how do you create a realistic budget that takes all costs into account? It starts in the early stages of your project.

Then, once you have a clear idea of that time frame, perform one last check by asking the following questions:

  • Do I need a contingency allowance for unexpected expenses?
  • What's worked in the past for similar projects?
  • What are the expectations and opinions of my team and stakeholders?

1. What is the first step in creating a project budget?

2. Why is tracking and reporting expenses essential in project cost control?

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What is the first step in creating a project budget?

Select the correct answer

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Why is tracking and reporting expenses essential in project cost control?

Select the correct answer

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