Discuss the importance of the project budget

Assignment Help Management Theories

Reference no: EM133587197

Project Plan - Project Budget

Discussion on project management concepts and discuss the importance of the project budget. Answer the discussion posts and create a project budget that relates directly to the major sections in the WBS.

make a project budget that includes contingency dollars and when the contingency can be reduced. Continue updating the WBS this week with the additional information learned regarding the project budget. The WBS should contain at least 75 steps (or more) when complete. The WBS should also be at least two levels deep. The WBS should contain the task, dependencies, the resources that are performing the task, the start and end dates, and any other pertinent information. The project documentation should be additive from last week's project plan.

Please find at least four references and cite them in your project, as well as a source to cite in your discussion. Sources must be used to enhance the learning experience. By finding a referenced source, you are enhancing the learning experience by searching for another source of information on the topic. Finally, please ensure you are using a source that is peer reviewed to ensure accuracy of information (select peer-reviewed journal articles from the Park Library).

Note: The project budget should tie back to the major components of the WBS. Each high-level task on the WBS should be noted in the project plan and should have dollars associated.

Project Description:
Our goal is to update the reservation and management software utilized at Americas Best Value Inn and Suites which's a chain of hotels and suites found in locations. The current software has restrictions, in terms of its features, user interface and ability to integrate with systems. By taking on this project our aim is to improve the experience, for guests make operations more efficient and enhance data management for decision making purposes.

Overall Budget Overview:
Sufficient funding has been allocated to cover all aspects of the project including software development, rigorous testing, comprehensive staff training as provisions, for unexpected expenses. The budget has been deemed adequate to ensure completion of the project without
compromising the stability of the organization

Reference no: EM133587197

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