IT Projecl managsment The Importance of project Cost Management o It is usually not difficult for It professionals to learn about project cost management; they just often are not interested in the subject. was 189% of the original estimates: improved to 45% in the 2001 study Project Cost ManagementProject Cost Management 6 The Importance of Project Cost Management ◼ Cost management is another trouble spot for IT projects. ◼ IT projects have a poor track record for meeting cost goals ◼ Average cost overrun from 1995 CHAOS study was 189% of the original estimates; improved to 45% in the 2001 study ♦ It is usually not difficult for IT professionals to learn about project cost management; they just often are not interested in the subject. IT Project Management