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I suggest you take a look at S-Curves which is a graphical presentation of accumulated data over time.
You are looking at monitoring capital over the length of the project.
1) plot cost over time based on the initial estimates and Gantt chart
2) plot actual costs over time
3) plot earned value over time
In an ideal situation the curves are identical at any given point. In reality there will be gaps which need to be addressed. The S-Curve can also be used to predict the future (project completion). Not only will it be an indication as to where you are today but also where you will be on completion. Cautionary note: don't assume things will get better over time. Trends typically continue unless/until something is done to recover.
You can read up on S-Curves in PMI documentation. Manuy of the Project Management software will generate S-Curves including, I think, MS Project.
Take a look to Earned Value Management, mainly the PMI´s standard on the matter. In my personal experience this is the domain where is more "easy" to apply the method.
I'd also suggest to take a look at the Earned Value Management with the specific KPI's related to cost management
Peter, Sergio & Riccardo,
Thank you for your time, suggestions and guidance on additional methods to analyze the project as a non-involved member.
EVM would be the way to go, but you'll need to have a bottom-up budget for the project such that as specific work packages are completed you'd be able to compare the actual costs of their delivery against their budgeted costs. This means you'd need actual cost reports at that level of detail as well. You'd also need a project schedule which makes it easy to determine which work packages should have been completed by a given point in time. Without any of these, EVM will be quite challenging to use...
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