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7 - PROJECT COST MANAGEMENT
7.4.2.5 Project Management Software
Project management software is often used to monitor the three EVM dimensions (PV, EV, and AC), to display
graphical trends, and to forecast a range of possible final project results.
7.4.2.6 reserve Analysis
During cost control, reserve analysis is used to monitor the status of contingency and management reserves
for the project to determine if these reserves are still needed or if additional reserves need to be requested.
As work on the project progresses, these reserves may be used as planned to cover the cost of risk mitigation
events or other contingencies. Or, if the probable risk events do not occur, the unused contingency reserves 7
may be removed from the project budget to free up resources for other projects or operations. Additional risk
analysis during the project may reveal a need to request that additional reserves be added to the project budget.
Management and contingency reserves are addressed in more detail in Section 7.2.2.6.
7.4.3 control costs: outputs
7.4.3.1 Work Performance Information
The calculated CV, SV, CPI, SPI, TCPI, and VAC values for WBS components, in particular the work packages and
control accounts, are documented and communicated to stakeholders.
7.4.3.2 cost Forecasts
Either a calculated EAC value or a bottom-up EAC value is documented and communicated to stakeholders.
7.4.3.3 change requests
Analysis of project performance may result in a change request to the cost baseline or other components of the
project management plan. Change requests may include preventive or corrective actions, and are processed for
review and disposition through the Perform Integrated Change Control process (Section 4.5).
7.4.3.4 Project Management Plan updates
Elements of the project management plan that may be updated include, but are not limited to:
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