Updating the budget requires knowledge of the actual costs spent to date. Any increase

to the authorized budget can only be approved through the Perform Integrated Change Control process.

Monitoring the expenditure of funds without regard to the value

of work being accomplished for such expenditures has little value to the project,

other than to track the outflow of funds. Much of the effort of cost control involves analyzing the relationship

between the consumption of project funds and the work being accomplished for such expenditures.