Is it that simple?
No, it certainly is not!
Two simple but essential principles must be clearly understood:
1. There must always be a basis for comparison
2. Only future costs can be controlled
Therefore, PCM involves
Careful project planning
Especially a WBS extended to the activity level
Estimating the costs of the planned resources
Converting that estimate to a viable control budget
Monitoring expenditures as work proceeds, and
Modifying the approach if the findings are not satisfactory
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