Project Cost Management and Cost Trend Analysis

Document from the year 2015 in the subject Business economics - Investment and Finance, grade: 1,3, University of Applied Sciences Bergisch Gladbach, language: English, abstract: This thesis deals with several aspects of project cost management with a focus on ¿Cost Trend Analysis¿. First it shall give the reader a short explanation of the term ¿cost management¿ and the necessity of this process. In addition to that, the text describes the three steps of cost management in projects. Those are cost estimating, cost budgeting and cost control. The cost control tool ¿Cost Trend Analysis¿ is described and reviewed in more detail so that the reader gets the ability to create a critical view individually. Finally the thesis summarizes the findings in a conclusion. It is no rarity, that the costs of a project exceed pre-estimated budgets. The origin of this exceeding often lays in the complexity of estimating, budgeting and controlling costs. Therefore cost management is an inevitable part of project management.