Cost Control and Management is a process involved in budget cost estimate (planning, estimating, financing and funding assistance, etc.), execution (controlling cost: budget allocation, expenditure, cash flow, payment, forecasting, etc.), and managing project cost (in order to minimise cost and increase profitability) that ensures the efficient operation of the project cost to complete the project within the approved budget.
Related Definitions in the Project: The Project Management; Project Controls; Project Cost
