Title: Introduction
Course: System Analysis and Design: Project Mana gement (17338) > Section: Competency Modules

Project cost management includes the processes required to ensure that a project team completes a project within an approved budget. Notice two crucial phrases in this definition:  a project  and approved budget.  Project managers must make sure their projects are well defined, have accurate time and cost estimates, and have a realistic budget that they were involved in approving. It is the project manager s job to satisfy project stakeholders while continuously striving to reduce and control costs.