|Cost - 2019-08-10|
1) Managing the budget for a project or the cost for it is an important aspect. The effective cost management is to ensure that the budget allocated is on track and will be completed as per the planned estimates.
2) Cost being the factor between project profitability and loss is an important aspect. The project person should pay attention while initial planning of budgetary estimation. With strict cost supervision, the project person should allocate the costs according to requirements and should also make decisions to where and how much funds are allocated in different stages of the project.
3) For complex projects, the cost estimates may vary as with the progress of......................