Description
This DB has two parts.
The cost component of a project must be carefully planned and managed throughout the life of a project. First, a budget must be established for the project. The selection of vendors involves a careful process of considering reputation, scope of work to be done, and time required to completion. Risks and uncertainty should be factored in to the plan. As the project progresses costs need to be
monitored and controlled.
- For projects in general, what are some of the considerations that must be factored when preparing a budget? What are some of the risks that must be considered in selecting vendors and dealing with unexpected external events? As the project progresses, what are some of the strategies for reducing unexpected costs?
- Continuing with your personal project from weeks 2 and 3. Prepare a budget of all costs associated with the project. Discuss what factors and risks may affect the costs? What are some of the strategies you can implement to reduce unexpected costs?
Explanation & Answer
Attached.
Outline
Introduction
Body
Conclusion
References
Running head: PROJECT BUDGET
Project Budget
Student’s Name
Course Number- Name of Course
Instructor’s Name
Date
PROJECT BUDGET
2
Project Budget
Question 1
When preparing a budget for a project, some considerations should be made. Past
expenditures should be used to base your predictions in the budget. If the organization has
undertaken a similar project, its budget can be used as the basis for making projections. If not,
research can be conducted on the needs of the project being undertaken. Unexpected events
should also be accounted for in the budget, and this will help in being prepared in case ther...
Review
Review
24/7 Homework Help
Stuck on a homework question? Our verified tutors can answer all questions, from basic math to advanced rocket science!
Similar Content
Related Tags
The Remains Of The Day
by Kazuo Ishiguro
Principles - Life and Work
by Ray Dalio
Fences
by August Wilson
Team of Vipers
by Cliff Sims
Gone with the Wind
by Margaret Mitchell
To Kill a Mockingbird
by Harper Lee
The Subtle Art of Not Giving a F*ck
by Mark Manson
Dr Jekyll And Mr Hyde
by Robert Louis Stevenson
Dune
by Frank Herbert