How to
Integrate Cost
Control with
the Project
Schedule
© Pragmatic Project Consilium
Overview
• Integration of cost control and scheduling is
essential for successful project management.
• It enables accurate tracking, forecasting, and
decision-making.
© Pragmatic Project Consilium
Why is Integration Important?
• COST AND TIME ARE • BETTER VISIBILITY INTO • FACILITATES PROACTIVE
INTERDEPENDENT IN COST AND SCHEDULE MANAGEMENT TO
PROJECT MANAGEMENT. VARIANCES. AVOID OVERRUNS.
© Pragmatic Project Consilium
Basics of Cost Control
• Applying
• Monitoring • Tracking budget
corrective
actual costs vs. allocations and
measures when
planned costs. spending.
variances occur.
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Basics of
Scheduling
• Developing a project timeline with
milestones.
• Defining task dependencies and durations.
• Identifying the critical path to manage
delays.
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Key Integration Points
• Using Earned
• Incorporating
• Aligning budget Value Management
cost-loaded
with project phases. (EVM) to measure
schedules.
performance.
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Tools for
Integration
• Primavera P6 for cost-loaded schedules.
• Microsoft Project for scheduling and cost
tracking.
• Cost Management Software (e.g., Procore,
Aconex).
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Role of Earned Value
Management (EVM)
• EVM integrates cost, schedule, and scope.
• Provides key metrics such as Cost
Performance Index (CPI) and Schedule
Performance Index (SPI).
• Helps project managers forecast project
outcomes.
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Best Practices for Integration
• Establish clear • Use standardized templates • Perform regular cost and
communication between the and reports. schedule reviews to address
cost and scheduling teams. variances early.
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• Integrating cost control • It ensures better resource
with project scheduling is management, forecasting,
crucial for project success. and accountability.
Take Away
• Proper tools and processes
help manage both costs and
time effectively.
© Pragmatic Project Consilium
For Claims Advisory services
Contact :
www.pragmaticpc.com
[email protected]
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