Integrated Cost Management

Integrated Cost Management is a comprehensive approach to planning, estimating, budgeting, and controlling project costs. It aligns all cost-related activities across different departments to ensure the project stays within its financial limits. By coordinating resources, tracking expenses, and updating forecasts regularly, it helps project teams make informed decisions, avoid cost overruns, and successfully complete the project on budget. Essentially, it provides a unified framework for managing costs throughout the entire project lifecycle, ensuring financial efficiency and project success.