Project Cost Management

What Is Project Cost Management? Why Use Software to Keep Budgets in Check?

Every company wants its projects to succeed and fulfill corporate goals and client expectations. But that’s not always how it works. According to a PMI analysis, 14% of the IT projects examined were considered unsuccessful. Only 57% of the total projects evaluated were completed within the estimated budget, while 43% exceeded the budget heavily.   When project costs exceed budget, …

Guide to What Is Earned Value Management

The Ultimate Guide to What Is Earned Value Management

Cost overruns on critical projects have become a significant problem. The budget for building the International Space Station was initially set at $36.75 billion. However, the actual expenses incurred were $105 billion, showing an increase of 186% over the original estimate. Additionally, it took an extra six years to complete the project.   No project manager wants to be in …