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Project control is a project management process used to constructively influence the time and cost outcomes of a project.
Cost Management, Change Management, Procurement Management, Schedule Management, Risk Management, Project Reporting Management and Document Control Management
In order to ensure that projects do not get delayed or over-run their budgets it is necessary to implement efficient project controls. This is a standard requirement as per PMI best practices. Also to ensure your project is in compliance with the client's requirement it is necessary to implemnt project controls.
A project control team needs to be independent of the PM to ensure efficient balanced project monitoring is done. Although the project manager is the final authority of the project, the project control team needs to be independent in order to provide unbiased feedback and guidance to the project team
If an efficient project control process is not implemented in a project, there are high possibility that the project will overrun its budget and get significantly delayed. As per KPMG's study around 70% of projects face either a cost overrun or schedule delay and one of the reasons is inefficient project control implementation on these projects.
No, project controls can be and need to be implemented in all sizes of projects irrespective of the project's complexity.
No, contrary to the general belief that implementing project control adds to the project cost, implementing project controls is proven to reduce the overall project cost by avoiding cost overrun and schedule delays. As per IPA Global efficient project control helps in improving the project cost by up to 20%
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