by John Swaren
| November 9, 2016
Effective management of a system or program starts with a budget in the front end and execution control and evaluation in the back end. Effective cost control can be achieved if the organization has a dynamic and flexible cost estimation capability which sets a baseline in the budgeting process and updates the costs / estimate-to-complete quickly and with minimum effort.
Effective cost control is only possible if an organization has a coordinated and synchronized cost estimation, budget development, and execution management process. As has been the theme in the other two cost management sections; data, estimation, tool integration and a feedback loop are the keys to successful cost control and execution monitoring. The PRICE® Cost Analytics Framework provides such capability.
From management’s perspective, per Zach Jasnoff’s blog, cost control can occur through answering any of the following:
Success can be accelerated by the PRICE® Predictive Cost Analytics (PCA) integration of business, engineering, and program management objectives in order to produce competitive solutions.
TruePlanning immediately facilitates objective quantitative assessment of customer needs/requirements, winning-business solutions, and project lifecycle cost management.
Contact me for a demonstration, either in person or via telecon. We’ve had many success stories here. You can be next!