On Wikipedia, the article ‘cost control’ is redirected to the article ‘cost accounting’. While the two concepts can be assimilated in a manufacturing environment where the future is but an extrapolation of the past, this is a grave mistake in a project environment, particularly for large and complex projects.
Did you know that with the right training, cost controllers can resolve Dilbert's uncertainty principle?
Because cost control is related to money, most people believe that it is just a particular specialty of accounting or finance. This misleading view has lead to serious project disasters. Our new White Paper 2012-09 “Why a Cost Controller is not an Accountant: The Right Role and Profile for a Cost Controller in Large, Complex Projects“ explains why, and what is the solution for the wise organization.
A cost controller needs to understand the business and be focused on the future, instead of being focused on the past. Its training and development needs to cover particular areas to ensure its effectiveness; and the organization needs also to recognize that cost control is a specific discipline, in particular for large, complex projects.
