The following bar chart shows the activities to complete a project in 6 months (each column represents 1 month). The total project cost is $1,480. After 3 months, Activities A, B, C, E, and half of F are completed, for a cost of $490. What is the status of the project in terms of the budget (over or under) and the schedule (ahead or behind)? (Give each answer in terms of a percent variance.

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Cost control

Cost control or management in property or project management is the process by which managers maintain costs under human resource management, assets, and capital expenditure to ensure that the project ends on a budget basis. Cost management depends on reasonable estimates and ongoing monitoring during the project. As a result, good cost control is essential for any construction business that wants to succeed.