Controlling Project Costs Through Interactive Planning
Source: Project Smart
If time is money, keeping a project on budget requires utilising the project's estimate, schedule, cost forecasting, and earned value systems interactively. We have all heard it discussed one way or another - time and money equate with one another. Yet, in our specialised world where we need to keep our budgets lean, we have almost forgotten that we actually need to spend money selectively in order to save money. The tendency is to reduce the budget for those who are guarding your money and schedule - the planning/scheduling and cost-control individuals.