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Michael, London
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Project Budgeting Best Practices
I love to know please how budgeting can contribute to the success or failure of a Project? Specific steps and attentions on the Project.
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Jill Mack, South Africa
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Project Budgeting
Project budgeting best practises for me:
- Ensure you have a procurement strategy in place ensuring that you comply with your preferred suppliers.
- Get 3 quotes, evaluate the 3 quotes and appoint the supplier.
- List all cost you intend in the budget for the business case. Get approval for all cost.
- Ensure that you have a change request budget too. This budget is small and caters for all smaller, unknown items that creep in which you are not aware of, but affect your budget.
- Once all of this has been approved in the business case, all your stakeholders are in the loop of all cost.
I am currently working on a office move project but is a failure due to the budget that was not setup properly which has resulted in a budget increase of 4 million - not acceptable.
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T. Stahl, Canada
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Why Project Budgeting is Essential
Normally, a project is successful when it is:
1. Completed on time,
2. Meeting its requirements, and
3. Completed w...
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nan zeng, China
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Project Budgeting
It is challenging, but the following efforts may help to make budgeting projects a success:
1. Develop project scopes ...
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