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Cost estimation and project budgeting

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Reference no: EM132402679

The ability to plan an effective budget is critical to the understanding of planned and actual costs in a project. The only way to understand both schedule performance and the accuracy of the budget is to create a baseline. Use your text reading and the ProQuest article by Marcia Jedd to describe the linkage of a time phased approach to budgeting and the importance of a baseline for the project. How does this baseline enable measurement of project health?

Required Readings

Read the following chapters in Cost and Value Management in Projects:

Chapter 3: Cost Estimation

Chapter 4: Project Budgeting

Read the following journal article from ProQuest:

Jedd, M. (2006, January). Project rescue. PM Network, 20(1), 64-68. Retrieved from ProQuest Database. The article provides a review of project budgeting, scope management, and helpful details on cost and schedule performance to aid in the discussion boards for the week.

Reference no: EM132402679

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