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In order to improve the effect of construction cost budget control, this paper applies the dynamic distributed clustering algorithm to the analysis of project cost budget data and proposes a two-stage strategy iterative algorithm to obtain the iterative control law and iterative performance index function. Moreover, this paper constructs an executive evaluation neural network to approximate the iterative control law and iterative performance index function, respectively. This neural network structure can implement the proposed algorithm online without the need for system dynamics. Through numerical simulation research and evaluation test research, it can be seen that the dynamic distributed clustering algorithm proposed in this paper has a good effect on the construction cost budget control system, which can effectively improve the reliability of construction project cost budget control.