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A project before being started has a predetermine or budgeted cost, u may keep tract the cost of a particular project by charging it to a special account identified separately by the nature of the cost spent.It would also help if progressively u do a periodic review on the build up of cost on the said account.Cost control department? It depends on how big your organization is, on a small to medium scale its normally with finance,however if is a multi or diversified it may be handled by a department within the division.Nevertheless cost control is a combined effort of the one monitoring (analyst) & the one spending (operation).
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