Define five areas where project costs could increase, Business Economics

Staff time is generally the principal cost component of an IS project. Define five other areas where project costs could increase.

Project costs also occur by:

• Contract labour, there invoices are submitted for the hours worked.

• Bought-into items, as like hardware and packaged software, for that again invoices will be received.

• Project-specific training either given in-house or through external training providers.

• Project-exact accommodation, for illustration the leasing of office space.

• Lodging and subsistence costs, there people require to work away by a base location for any length of time.

• Travel expenses, frequently arranged by third-party travel companies.

• Consumables, as like stationery and cartridges for printers and etc.

• Insurance, for the project’s tools but also to cover these issues as public liabilities and professional indemnity.

Posted Date: 9/3/2013 6:53:01 AM | Location : United States

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