Mark LaBere Formerly of Bismarck ND - What is Cost Management?

As a seasoned accounting and finance professional, Mark LaBere (formerly of Bismarck, ND) is well-versed in the practice of cost management – the process by which the costs of production are effectively managed so as to keep a given organization or project on track without exceeding budgetary limitations.

A professional who has managed such processes for a number of organizations, Mark LaBere – formerly of Bismarck, ND – understands effective cost management as key to not only avoiding overspending, but also to prevent costs from exceeding profits at any point in time.

When managing the costs of a given project, it’s important to:

• Plan for the unexpected. It’s important to make room in your budget for unexpected issues or potential disasters that could delay the project.
  
• Closely monitor your budget throughout the project. Having a process or software in place for real-time tracking is crucial to swift issue resolution.