After you’ve determined that your project might not finish within budget and you’ve examined the project costs, you should have a good sense of which costs you can eliminate or reduce. You can use several approaches to reduce project costs:
You can use a combination of these approaches to reduce costs. For example, to meet your budget you may want to reduce the number of resources assigned to a task, cut the amount of work on another task, and delete some tasks. If the cost of the project takes precedence over other goals, you may also choose to reduce the scope of the project by reducing the work done on various tasks or even deleting tasks.