Project cost control is the difference between a profitable backlog and a portfolio of money-losing jobs. It starts at estimation and ends at the final invoice — and every step in between needs to be visible.
Establish a baseline budget from a detailed BOQ. Break costs into labor, material, plant, subcontract, and overhead so variance is visible by category. Approve commitments against the budget before they are made, not after.
Track actual costs against the baseline in real time. When labor productivity drifts or material prices rise, the variance appears immediately — and the project manager can act on it before it compounds.
At month-end, close the loop with accurate job costing and earned value reporting. Change orders must be priced and approved promptly, because the revenue you fail to capture is margin you will never recover.