Figure 41. Control Costs: Inputs, Tools and Techniques, and Outputs. Reprinted from "A Guide to the Project Management Body of Knowledge (PMBOK Guide), 5th Edition" by Project Management Institute, 2013, p. 215. Copyright 2013 by Project Management Institute, Inc. Reprinted without permission.
1. Earned Value Management (Tools & Techniques): This PMGT 501 Chapter 13 homework assignment utilizes Earned Value Management (EVM) in determining project cost performance. Planned cost, Actual Cost, and Earned Value have been calculated to indicate project cost performance.
2. Performance Reviews (Tools & Techniques): This PMGT 502 WBS 8.3 assignment visits calculations required to support value analysis based on value gained through planned versus actual performance. This information provides an excellent foundation when reporting performance to stakeholders.
3. Project Funding Requirement (Input): The control costs process requires and understanding of the project funding or budget. This Fukushima Daichi group project created a planned budget requirement, including contingency and management reserves. This input provides a reference to be used in controlling project costs.