6. What are the principles of agile methods? 27. What are the Components of a Strong Value Proposition?

What Is Cost Control?

Cost control is the practice of identifying and reducing business expenses to increase profits, and it starts with the budgeting process. A business owner compares the company's actual financial results with the budgeted expectations, and if actual costs are higher than planned, management has the information it needs to take action.
As an example, a company can obtain bids from different vendors that provide the same product or service, which can lower costs. Cost control is an important factor in maintaining and growing profitability.

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  Cost control is the practice of identifying and reducing business expenses to increase profits, and it starts with the budgeting process.
  
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  Cost control is an important factor in maintaining and growing profitability.
  
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  Outsourcing is a common method to control costs because many businesses find it cheaper to pay a third party to perform a task than to take on the work within the company.
  

42.Describe Project Monitoring and Control Techniques

 Project monitoring and control helps you measure project performance. Use the process to look at the project plan, review project status, identify potential problems, and implement changes when necessary. 

What Is Project Monitoring and Control?

What Is the Main Purpose of the Project Monitoring and Control Phase in Project Management?

The primary purpose of monitoring and control in project management is to identify problems before they occur and make adjustments. These changes may require reevaluating and updating the project plan.

Importance of Project Monitoring and Control

Alan Zucker describes the importance of project monitoring and control for delivering a successful project: "Project managers know that no project proceeds perfectly according to plan. We must be diligent in tracking performance to see if it meets our expectations for success. If not, we must determine what is needed to keep the project on track."

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