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9 Launching and executing the project > Control the costs - Pg. 189

189 LaunchingandExecutingtheProject · longdebates­theydetractfromthepurposeandcause deviation; · negotiations­usuallyexcludesmostofthosepresent; · `anyotherbusiness'­thebiggesttimewaster! Watchpoint The action list is the most important document to come out of progress meetings and this is the starting point of the next meeting ­ checking all agreed actions have been completed. Controlthecosts The best way to control your project is to focus on cost measurement. To demonstrate success you must not exceed the budget. Accurate cost control is only effective if all costs are measured, including the costs of people working on the project. This means everyone must record their time spent on project work so that this can be costed. Cost rates often include all indirect costs such as rents, heating, lighting etc for the organisation. If the time data is not collected in a consistent and disciplined way, then you cannot control the costs very accurately. Your monitoring process must, therefore, include accurate measurement of: · thetimespentoneachtask; · theresourcesusedonalltasks; · costofmaterials(andwastage)used; · costofequipmenttimeused; · capitalexpenditurecommitted; · revenueexpenditurecommitted.