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When IT Is Your Company’s “Piggy Bank”
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4 Key Things a Project Manager Must Do
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Essential Project Management
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8 Traits of Top Project Managers - Part 1
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Agile Project Management - Engaging Your Customer!
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9 Tips to Avoid Traps in Project Planning
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Why Projects Succeed - Executive Sponsorship
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On Customer Participation in Agile Projects
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A Project Charter for Lazy Teams
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The Power of Process: How Bad Project Management Kills Great Ideas
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Creating The Project Scope - Cost Budgeting
May 2, 2008 | Author: PM Hut | Filed under: Cost Management, Project Scope Management, Scope Management
Creating The Project Scope - Cost Budgeting (#6 in the series Creating The Project Scope)
By Joseph Phillips
Cost budgeting is the actual money committed on a project deliverable. Once the cost estimate has been created, we have to track the actual time and materials expenses that went into creating the WBS deliverable. The difference between what was estimated and what is actual is the cost variance. Cost budgeting allows the project manager and management to track the cost baseline of the project.
Joseph Phillips is the author of five books on project management and is a, PMI Project Management Professional, a CompTIA certified Project Professional, and a Certified Technical Trainer. For more information about Project Management Training, please visit Project Seminars.
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