<ul data-eligibleForWebStory="false"><li>Effective financial control in project management involves variance tracking of planned vs. actual metrics.</li><li>This process's management differs based on contract type: fixed-price or time-and-material (T&M).</li><li>For fixed-price contracts, focus on actual costs vs. agreed price, controlling scope creep.</li><li>In T&M contracts, transparency in time logs and material costs is vital.</li><li>Understanding variance tracking nuances is crucial for project success and financial management.</li></ul>

Variance Tracking in Time and Material vs Fixed Price Contracts

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