You are the Project Manager responsible for overseeing the development of a new product. Your role is to establish and implement strategies for cost management, quality assurance, and timely delivery. You can choose any current project to suit the above scenario.

1. Define the project's cost-related goals and objectives. How will you ensure that the project remains within budget while meeting quality standards and deadlines?
2. Identify the key roles and responsibilities of individuals or teams involved in managing project costs. How will you assign and communicate these roles effectively to ensure cost control throughout the project lifecycle?
3. Identify the stakeholders who are concerned with project costs and financial performance. How will you communicate cost-related information to different stakeholders, considering their varying levels of expertise and interest?
4. Analyse the project's current situation, including cost estimates, budget allocation, and any potential risks or changes that could impact costs. How will you monitor and address cost variations and potential cost overruns as the project progresses?