Project cost management is a process of organizing, implementing, controlling, tracking, analyzing and evaluating the effective cost of the project according to the overall goal of the enterprise and the specific requirements of the project, so as to strengthen management, improve the cost management system, improve the cost accounting standards, reduce the project cost, achieve profit target and create good economic benefits. Therefore, strengthening the cost management of construction projects is the only way for enterprises to save money and enhance their competitiveness. Through the definition of cost and the description of project cost management, this paper grasps the characteristics of construction project cost management as a whole, and analyzes the present situation, existing problems and corresponding development strategies of construction project cost management.