May 24, 2008
cost-containment and project planning
In my career in the field of project management consulting, one of the toughest “nuts” to crack is that of cost containment. Bringing a project in at or under budget can be very difficult to achieve. In my experience, project costs that are spiraling out of control can usually be traced back to poor planning. Experienced project managers will be able to accurately forecast various types of project-related costs (materials, labor, etc.) — and they will insist on a up-to-the-minute financial reporting in order to keep tabs on project-related expenditures at all times. The management and stockholders of your company will not appreciate projects that are completed way over budget, no matter how beneficial the change may be to your organization.