ABSTRACT
Like a system of differential equations, project cost elements consist of several parameters and are subject to differing factors in time-varying proles. All these elements and factors must be understood and evaluated systematically over the project life cycle. Capital, in the form of money, is one of the factors that sustain organizational projects. It is necessary to structurally consider the implications of committing capital to a project over a period of time. The approach of project cost systems analysis and control helps us achieve that goal.
