Analyzing costing using different views

Once you have created a budget and a cost plan for the project we've discussed in this chapter, the best practice is to proceed with baselining and tracking, as you would normally do. As a result, the following two additional benefits will accrue for your project:

• Your baseline will contain costing data for all future references.
• When you track project work progress periodically, costs will also get updated automatically based on the changes that are made to the work's progress.

Project cost analysis is a critical aspect of monitoring and controlling a project. The following screenshot shows our current hands-on project, which has now been baselined. Our work progress has also been updated to the current date:

Figure 15.22 – Current project baselined and progress updated

For the remainder of this chapter, we will progressively drill down into the different levels of costing analysis...