Burn Rate Project Management is an effective method of monitoring, controlling, and predicting costs associated with a project over its lifecycle. It’s based on the concept that all resources – financial, human, material, etc. – required to complete a project have been allocated in advance. This allows project managers to measure the rate of expenditure of those resources over time, or their “burn rate”. By understanding and tracking the burn rate, project managers can plan more accurately, identify potential areas of waste, and make course corrections as needed. With Burn Rate Project Management, teams are able to work smarter, be better prepared for any issues, and get projects done faster and more cost-effectively.