Paper Infomation
Analysis of Full-Cycle and Multi-Element Cost Control Measures and Practices in Projects
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Author: Mingquan Yu, Jianyu Wang, Shuaishuai Hua
Abstract: With the increasing scale and complexity of projects, traditional cost control methods can no longer meet the demands of modern project management. Full-cycle cost control, as a new management model, emphasizes comprehensive cost management throughout the entire project lifecycle, from initiation to closure. Its aim is to ensure projects are completed on time and within budget while maximizing economic benefits through accurate budgeting, real-time cost monitoring, and dynamic adjustments. This paper analyzes the theoretical framework and practical measures of full-cycle cost control, exploring specific management methods at different stages, such as initial budgeting and risk assessment, cost monitoring and change management during execution, and cost settlement and summary during project closure. Additionally, the paper highlights the challenges faced in project management through case studies and outlines future trends such as the application of information technology, lean management, and collaborative cooperation. Effective cost control enables projects to reduce risks, optimize resource utilization, and achieve the desired project goals.
Keywords: Full-Cycle Cost Control, Project Management, Cost Monitoring, Risk Management, Lean Management
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