PMP & Project Management » Control Costs http://pmp-projectmanagment.com Helping Aspiring PMP Professionals to Excel! Fri, 20 Jan 2012 04:10:48 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Process: Control Costs http://pmp-projectmanagment.com/process-control-costs.html http://pmp-projectmanagment.com/process-control-costs.html#comments Wed, 03 Feb 2010 03:21:34 +0000 Mark Smith http://pmp-projectmanagment.com/process-control-costs.html Continue reading →]]>

Control Costs

The Control Costs process is one of the ten processes grouped under the Monitoring and Controlling Process group. The Control Costs process involves the monitoring the status of the project for the following reasons:

  • To update project budget (as per the requirements).
  • Managing changes to the cost baseline, whenever required.

Inputs

There are the following four inputs in the Control Costs process:

  • Proect management plan
  • Project funding requirements
  • Work performance information
  • Organizational process assets

Outputs

There are the following six outputs in the Control Costs process:

  • Work performance measurements
  • Budget forecasts
  • Organizational process assets updates
  • Change requests
  • Project management plan updates
  • Project document updates

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