Project control: Project Control is a process for controlling the investment of resources in an asset. It is a subset of Project Management with the primary focus of managing the project’s cost and schedule. In Transitional Case Management (TCM), project control is the recursive process cycle that is nested within the “do” step of the strategic asset management process cycle. The project control analysis and estimates the whole project for the control measures with the aim to achieve the agreed results, to implement success factors and to minimize the friction losses. A project is a temporary endeavor an enterprise undertakes to create, modify, maintain, or retire a unique asset. Being a temporary and therefore unique endeavor, projects are by nature uncertain and that clement of risk puts a premium on control and discipline. It intends therefore to collect goal-relevant information and to coordinate systematic decisions. It provides perfect and appropriate information to project management team that will permit them to make informed decisions and takes essential actions to correct any probable adverse situations or trends.
The two fundamental objectives of project control are:-
- It ensures regular monitoring of performance, and,
- It motivates project personnel to strive for achieving project objectives.