Budget overruns are a project manager’s nightmare. These project budget management strategies will keep your project budget under control — and your stakeholders happy.

Budget overruns are a litmus test for project success or failure. Few companies have an unlimited budget, so the first thing project stakeholders look to in determining whether their project was a great success or a colossal failure is the bottom line. This fact fuels the pressure project leaders, and their teams face with each passing day. As such, effective budget management is a primary area of focus for project managers who value their careers.

The following are five strategies for maintaining control of your project budget before it succumbs to whopping cost overruns.

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