What is the importance of Project Cost Management in a certain project?

It depends on how your company is set up to account for project costs. In some companies, cost by project is not really tracked. The cost of total staffing, facilites, and equipment are all kept track of and multiple project teams and costs are attributed to a particular cost center. In other companies costs by project are tracked either by the project management team, or a particular person from accounting that sits in on the project team meetings and figures costing for that project. Hope this helps. There are many different ways to track and I have seen many! But these are the 2 mainly used techniques that I have seen, particularly here in the Silicon Valley.

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cost managment very impotant for count to goods or services cost.as useally thease are impotant to degees factary working knoledge.

The role Cost Management is to estimate the cost of a project, plan the commitments and spend, monitor the actual costs against the plan and forecast the cost of the remaining work. The role is different than that of project accountant though the demarcation between some overlapping responsibilities may be different in different organisations.