This study aimed to answer the contractors’ quest for the correct application of the project cost control system in their construction projects. It involves time, cost, and performance in conjunction with planning, budgeting, scheduling, allocating resources, monitoring and controlling, and evaluating and terminating the project for the contractor’s benefit. The descriptive quantitative type was used throughout the research project. Respondents were chosen and considered their involvement in civil construction activities. The prepared survey questionnaires were distributed, gathered, encoded, and analyzed using the SPSS program. A conclusion revealed that an effective project cost control system should have proper project costing and financing, efficient management, competent personnel, realistic cost estimation, appropriate contractual framework, appropriate scope definition, an established design system, proper risk management during project execution, established training programs, and increasing supply of materials. The hypotheses showed that there are no significant differences in the respondents’ perceptions as to the extent of the system application regarding time, cost, and performance. It also shows no significant differences as to the degree of applicability of the project cost control system in the areas of planning, budgeting, scheduling, and allocating resources, among others.