Project controls represents an integrated approach to managing the budget, schedule, data and documents for a project, as well as providing relevant analysis of these. It is often utilized in conjunction with project management in order to increase transparency and coordination and reduce risk related to budget, schedule and other factors. In some markets, with the UK as an example, project controls is considered an integral element of project management. In North America, this is not always the case. Many clients bring in project controls practitioners only once major issues arise, or take an a la carte approach, utilizing project controls practitioners to assist in a particular area or schedule or budget or data or documentation.
Source : RICS