Effective cost control and management is critical to the financial success of a Project and the Client’s own financial management. This is effected through the establishment of appropriate cost control and reporting procedures to control and monitor expenditure and costs, budgets, estimates, commitments, payments, etc.
Equally important is clarity around the communication of change. Untimely change is responsible for many costs and programme overruns and yet at the same time the Project Team needs to be flexible enough to respond and react to changing requirements and opportunities.