Comparing Between Actual Work and Master Plan Cost
The effective project manager must follow-up on the progress of the work. Follow-up costs in themselves do not represent the control of the project, and that control of the project includes several steps that will lead to taking the steps geared towards the achievement of the objectives of the project.
The first step is to compare the progress of the work plan. It is clear that the most important indicator is the date for completion of the project calculated by the critical path. If there was any delay in activities on the critical path, it will inevitably lead to delays in the date of completion of the project.
The project manager should also monitor the activities rather than the critical path, as any significant delay with low performance rates may lead to influence on the critical path.
For the activities which finished, it would be sufficient to compare the actual costs to the estimated budget for each activity.