Project Cost Management: Case Wrap-Up

Continued from Sample Case.

After talking to his colleagues about the meeting, Juan had a better idea of the importance of project cost management. He understood the value of doing detailed studies before making major expenditures on new projects, especially after learning about the high cost of correcting defects late in a project. He also learned how important it is to develop good cost estimates and keep costs on track....

...Government officials cancelled several projects when the project managers showed how poorly they were performing and admitted that they did not do much planning and analysis early in the projects. Juan knew that he could not focus on just the technical aspects of projects if he wanted to move ahead in his career. He began to wonder whether several projects the city was considering were really worth the taxpayers’ money. Issues of cost management added a new dimension to Juan’s job.