Project Cost Category
There are two basic types of costs in every project.
Many treat these costs differently simply because they may be tracked or managed in different systems. You need to bring all these together, so you get a holistic view of your entire project costs. From there you can manage the financial aspects of your projects more effectively.
Estimate at completion and Cost to complete
● Typically, most create a project budget and then track actual as the project progress. However, they do not consistently compute EAC and Cost-to Complete (CTC).
● By periodically evaluating CTC and EAC, controllers can predict and record variances before they materialize and in time to take corrective action. It is also crucial in spotting trends and making mid-project corrections.
Better Project Cost Management = Better Business Performance
Advanced Project Cost Management with Aim.link PBO
Manage your project costs in one system and transform how you manage your business.
● Align your financial with your operations in real time, so your financial reports always reflect the current operational plan.
● Leverage the WBS to feed your CBS with the most accurate cost estimates from the updated timeline.
● Automate the change order process to eliminate manual workloads.
● Evaluate cost to complete with real-time work estimates from the schedule.