Seeking the optimum balance between cost, quality, and time requirements is essential in managing a project. Cost engineering is the engineering practice devoted to the management of project cost, involving estimating, cost control, cost forecasting, investment appraisal, and risk analysis. It is to have accurate cost estimates and schedules and avoid cost overruns and schedule slips, act as supporting assessment in decision-making. Earned Value Management is important to provide accurate forecasts of project performance problems, which is important.
