Question
Every project is allocated a budget based on the quantities defined by the project stakeholders. What is cost control? Why is it important to control
Every project is allocated a budget based on the quantities defined by the project stakeholders. What is cost control? Why is it important to control the cost/budget? How can you further reduce costs in a project?
Critique the cost management process. (5 marks)
Step by Step Solution
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Step: 1
Cost Control Cost control refers to the process of monitoring managing and regulating project expenditures to ensure that they align with the approved budget It involves tracking actual costs against ...
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Management Accounting
Authors: Leslie G. Eldenburg, Albie Brooks, Judy Oliver, Gillian Vesty, Rodney Dormer, Vijaya Murthy, Nick Pawsey
4th Edition
0730369382, 978-0730369387
