Question

____ involves the following: Analyzing cost performance to determine which work packages may require corrective action; Deciding what specific corrective action should be taken; and Revising the project plan, including time and cost estimates, to incorporate the planned corrective action.

Answer 1

Cost Control

Explanation:

Cost control is the method of recognizing and reducing business expenditure in order to boost revenue, and it begins with the budgeting process.

A company owner contrasts actual results to goals that are budgeted and if actual costs are higher than expected, management may intervene.