This chapter lays down vital topics related to cost control techniques and project profitability. It discusses role of cost control techniques in enhancing project profitability through various techniques such as budget monitoring and control, financial planning and forecasting, etc. This work also discusses importance of cost control techniques to ensure project profitability. Current challenges are also highlighted by cost control techniques for better understanding of the picture. A detailed overview of approaches used to manage project costs throughout the construction lifecycle such as performance metrics, risk management techniques, stakeholder engagement, etc. is discussed. Various cost control techniques have been laid out giving an understanding of their meaning and their importance in construction industry. Factors influencing project profitability in construction industry have been discussed in detail with their strategies to enhance profitability of the project. In the light of topic, a case study has been shared as a reference to better understand and relate the topic with the practical world in context of Nigerian construction projects.