Cost control and cost engineering provide a systematic approach to identifying and analyzing pertinent cost and schedule information. The project team to troubleshoot potential problems, assess preventive and corrective actions, and to forecast final costs uses this information. The primary purpose of cost control is to connect the budget, the schedule, and actual cost data for accurate management reporting. Once the baseline is established, tracking installed quantities and expended man-hours against the budget makes productivity comparisons. The key to this process is accurate accounting of the quantities and costs.
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