There are many techniques that enable a project manager to control either the cost or the progress of a project, but these techniques do not usually combine these two aspects and therefore a measure is seldom available of the cost-effectiveness of a project. The author reviews some current techniques and then develops a new simple graphical one which is easy to apply and which reveals clearly both the overall costeffectiveness of the work done in a project, and also any increase or decrease in such cost-effectiveness. A comparison can be made at any time against the baseline originally agreed and defined at the start of the project and, moreover, any agreed change in the overall amount of work within the programme is automatically reflected both in the baseline and in the measure of work done so far.