how to control GCP project cost

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In the documentation for automated cost control they have mentioned this recommendation below. what does that mean is there any way to put control on project cost or is it organization wide billing settings or they are just mentioning setting up budget alerts with lower limit compared to max budget. https://cloud.google.com/billing/docs/how-to/notify

Recommendation: If you have a hard funds limit, set your maximum budget below your available funds to account for billing delays.

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