How does your team leverage cost information as a project evolves?

Question

Cost information can play a role well beyond tracking where things stand.

As projects move forward and circumstances change, in what ways does your team leverage cost information to inform decisions, monitor changes, plan ahead, or keep teams aligned?

Caleen Frisbie · Answer

That is so well put Landon, and a smart leading indicator indeed.

I would love to hear how others are using cost information as well, so much we can glean from our varying roles. How about you all? What is one useful way you are utilzing it? @Emmanuel.Formet @yemi_cnl_2012 @Bernice.Yong @samehtalat @m2l @Thomas.Neidhardt @farrukh.kamolov @Priscilla.Ambrosaeo @Kristyn.Wailewski @JenniferTimes @Thudson @Tony G

Landon.Reeves · Answer

Usually by the time a problem shows up in the dollars, it's already late.

The teams I see get ahead of trouble watch productivity instead. If a crew is burning 20% more hours per in week three, you know the cost overrun is coming well before the budget report tells you.

We lean on cost to explain what happened, and use productivity to decide what to do next.