Pay per click management becomes more important a as you develop a larger keyword list,
and have multiple pay per click campaigns e.g. Google Adwords campaigns.

Although pay per click (PPC) is highly targeted, and controllable by you in terms of how much in total you choose to spend, it is still important to keep a close eye on your campaigns at all times. It may be worth experimenting first of all with a small, yet highly refines and researched keyword list, and then growing things from there if you need to.

Although it may be important for your ad to appear on the first page of Google for your chosen key phrase, it's probably not worth spending much more than you had originally budgeted for just to get your advert to the top position on that page, as this may not make a great deal of difference in the number of clicks that your ad receives.

The most important elements of managing the effectiveness of an Adwords campaign aren't about costs and bidding as such, but more about choosing the right key phrases, creating a good landing page in the eyes of Google, and ensuring that the landing page and the Adwords advert are as relevant as possible to eachother. This is because Google gives you a quality score for this which in turn can actually bring your CPC (cost per click) down.