Academic Scientific JournalsConditions of efficient project cost control
Keywords:
project management, costs, earned value management, budgetingAbstract
The aim of the paper is to present reflections on project cost control. It seems that effective cost control of the project continues to be a significant problem in many entities. The practical solutions dealing with this problem are relatively rarely discussed in the literature.
The article first presents the essence of the earned value management approach, and also identifies the key problems connected with using this methodology, i.e. the application of the percent complete method in project evaluation process, or delays in the reporting of the results of the analysis. In the second part of the paper selected aspects of cost control were presented, i.e. the problem of variations’ evaluation and concentration on negative variations, the correct calculation of costs of procurement, the significance of the self-control mechanisms, control of project changes, and the essence of formal and informal control.
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