The cost of a project is the sum of

The cost of a project is the sum of all the expenses consumed in order to complete the task of the project, this includes the transfer value of Means of production consumed in the construction process and the value created by a portion of the live labour distributed to workers in the form of wage compensation for their personal consumption. The whole process cost control of engineering project is the whole process cost management from the investment decision to the completion acceptance of the project construction. This is a dynamic management method based on the whole process. In the process of project construction, the cost control measures are applied to the construction process in all directions, the whole process, using information, contract, economy, organization and other methods to forecast and control the cost, adjust labor, material, machinery consumption and cost expenditure in time, play a role in project supervision, guidance, rectification, cost control within the scope. In the whole process from the investment decision-making stage to the acceptance stage of the construction project, there are many times of cost control work in the project cost, and each stage has the cost control work in the corresponding stage, ensure project cost is predictable and controllable at each stage. The figure below shows the whole process of construction, the cost control process of each stage, different stages corresponding to different costs.