Budgeting process in project management:A budget identifies the planned expenditure for a project.Budgting is the determination of cost associated with the defined activities.Steps associated with the budgeting are highly dependent on both the estimated length of the tasks and resources assined to the project. Development of project budget typically require more than one person. It is considered that a single person may not have the deep understanding of all the factors invloved that could be affecting every aspect of project. A good process is to have the smae people ,who did review the activities and tasks associated to the project , to be invloved in budgeting process. After the initial comparative or parametric estimates, the detailed budget of a project will be estimated bottom-up using the work breakdown structure (WBS). It is very critical to check the cost and keep it under the allotted budget . There are several ways to control the cost and manage the expenditure of a project within estimated budget: Some are : Thanks Solution Budgeting process in project management:A budget identifies the planned expenditure for a project.Budgting is the determination of cost associated with the defined activities.Steps associated with the budgeting are highly dependent on both the estimated length of the tasks and resources assined to the project. Development of project budget typically require more than one person. It is considered that a single person may not have the deep understanding of all the factors invloved that could be affecting every aspect of project. A good process is to have the smae people ,who did review the activities and tasks associated to the project , to be invloved in budgeting process. After the initial comparative or parametric estimates, the detailed budget of a project will be estimated bottom-up using the work breakdown structure (WBS). It is very critical to check the cost and keep it under the allotted budget . There are several ways to control the cost and manage the expenditure of a project within estimated budget: Some are : Thanks.

1. Budgeting process in project management:A budget identifies the planned expenditure for a
project.Budgting is the determination of cost associated with the defined activities.Steps
associated with the budgeting are highly dependent on both the estimated length of the tasks and
resources assined to the project.
Development of project budget typically require more than one person. It is considered that a
single person may not have the deep understanding of all the factors invloved that could be
affecting every aspect of project. A good process is to have the smae people ,who did review the
activities and tasks associated to the project , to be invloved in budgeting process.
After the initial comparative or parametric estimates, the detailed budget of a project will be
estimated bottom-up using the work breakdown structure (WBS).
It is very critical to check the cost and keep it under the allotted budget . There are several ways
to control the cost and manage the expenditure of a project within estimated budget: Some are :
Thanks
Solution
Budgeting process in project management:A budget identifies the planned expenditure for a
project.Budgting is the determination of cost associated with the defined activities.Steps
associated with the budgeting are highly dependent on both the estimated length of the tasks and
resources assined to the project.
Development of project budget typically require more than one person. It is considered that a
single person may not have the deep understanding of all the factors invloved that could be
affecting every aspect of project. A good process is to have the smae people ,who did review the
activities and tasks associated to the project , to be invloved in budgeting process.
After the initial comparative or parametric estimates, the detailed budget of a project will be
estimated bottom-up using the work breakdown structure (WBS).
It is very critical to check the cost and keep it under the allotted budget . There are several ways
to control the cost and manage the expenditure of a project within estimated budget: Some are :
Thanks