ABSTRACT
This chapter continues the subject of cost management by describing techniques that can evaluate performance against budgets, and analyzes trends and attempts to predict the total final project costs. However none of the methods described in the chapter will do anything to control costs unless the project manager acts on the information gained. It establishes an effective procedure for assessing achievement is to decide which work elements are to be subjected to measurement, analysis and reporting. They give here some observations on assessing engineering design progress, based closely on our experience in two different companies. For cost-control purposes, it is necessary that these data are presented in a way that shows unwanted trends as early as possible, before it becomes too late for anything to be done. Another section of each monthly report reviewed the planned dates of future milestones and presented the current assessment of whether or not progress was on track.
