Control Costs

Process

Monitoring the status of the project to update the project costs and managing changes to the cost baseline.

When performed: Throughout the project

Process group: Monitoring and Controlling

Knowledge Area: Cost Management

Outputs Created

• Work performance information*
• Cost forecasts*
• Change requests*

Outputs Updated

• Cost management plan
• Cost estimates
• Basis of estimates
• Cost baseline
• Performance measurement baseline
• Assumption log
• Lessons learned register
• Risk register

Inputs

• Cost management plan
• Cost baseline
• Performance measurement baseline
• Lessons learned register
• Project funding requirements
• Work performance data
• Organizational process assets
  • Existing formal and informal cost control-related policies, procedures, and guidelines
  • Cost control tools
  • Monitoring and reporting methods to be used

Tools & Techniques

• Earned value analysis
• Expert judgment
• Project management information system
• Reserve analysis
• To-complete performance index
• Trend analysis
• Variance analysis

Key inputs & outputs are indicated with *