One of the important steps of project management includes Construction Cost Management which ideally creates a baseline for the project cost at the various phases of project development. It is done to ensure that project costing does not get exceed from the particular budget. In case the project happens to exceed the planned budget, it might not be able to yield profits. The various types of estimates involved in construction include design estimate, bid estimate, control estimates. Cost control management is required in every project so that the unnecessary expenses may be cut down as over a long haul; this would seem like a superb decision. It is important so that the expenses could be curbed at the beginning of the project. It is also important that the money is utilised well, and sound management makes the execution of the project easier.
