Which factor is essential for effective cost control?
- Regular monitoring and tracking of project expenses
- Ignoring project expenses
- Increasing project scope
- Reducing stakeholder communication
Regular monitoring and tracking of project expenses is essential for effective cost control. It allows project managers to identify deviations from the budget early on, take corrective actions, and ensure that the project stays within budget constraints, contributing to the overall success of the project.
Loading...
Related Quiz
- How does risk assessment differ from risk management?
- Effective decision making requires a thorough evaluation of ____________ outcomes.
- What are the challenges faced when allocating resources across multiple projects simultaneously?
- What strategies can be employed to motivate team members during challenging times?
- Identifying ___________ areas is crucial when creating a professional development plan.