Project Budgeting Best Practices

      
			              Best Practices
			            
			            Sign up

			            	Michael
			            
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.
				      
X
Welcome to the PMBOK best practices. 

The topic of this particular best practice is: "Project Budgeting Best Practices". 

Please register now to read all responses and to join this discussion yourself. 

										Log in

						            	Jill Mack
												
				                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.
				                
						            	T. Stahl
												
				                Why Project Budgeting is Essential

													Normally, a project is successful when it is:
1.  (...)
				                
						            	nan zeng
												
				                Project Budgeting

													It is challenging, but the following efforts may h (...)
				                
			                    	Participate and leave a comment
Exchanging your ideas stimulates your personal and professional development. And you can help other people!  More info. 

Start a new forum topic

		                            More on PMBOK
		                          
		                            Summary
												        
												              Forum
												            
		                          	When Used for Software Development
Why Projects are Risky?
Agile Project Budgeting
PMBOK Edition 6: What's New?
PMO in Human Resources
What is Project Lifecycle?
Life Cycle Costing Analysis
Presenting Lessons Learnt
The 3 Processes to Manage the Quality of Projects
🔥Gold Plating in Project Management
Project Management Knowledge Standard(s)
The Meaning of 'Scope' in Project Management
Managing Organization Culture

																	              Best Practices
																	            
							                          	PMBOK <> PMBOK Guide
Who Initiates and Plans a Project?
I am a project, my life is a program
Project Budgeting Best Practices
Task Reminder Tool / Task Reminder Software
What are the Common Reasons Why IT Projects Fail?
Is the 2013 Version of PMBOK V5 a Real Improvement?
Looking for Internet Collaboration Project Software
Shortfall in the PMBOK Framework
Why Project Risk Management?
Why use Project Management Software?
9 Knowledge Areas in PMBOK

		                              Special Interest Group
		                            
		                            Are you interested in PMBOK? Sign up for free

				                        Notify your students
				                      
				                      Copy this into your study materials:
Interesting discussion: Project Budgeting Best Practicesand add a hyperlink to:
https://www.12manage.com/forum.asp?TB=pmi_pmbok&S=9
					                  
				                        Link to this discussion
				                      
				                      Copy this HTML code to your web site:
Interesting discussion: <a href="https://www.12manage.com/forum.asp?TB=pmi_pmbok&S=9">Project Budgeting Best Practices</a>