Reference no: EM1345554

Operationalize project cost

1. While the organizational goal is to operationalize project cost effectively, there are always trade-offs. The first thing to understand is how the project budget is calculated. So, how do organizations determine a project budget? How does the project manager deal with a budget that is insufficient to implement all of the users' requirements in the initial install? (Operationalizing costs means that you take into consideration all direct and indirect costs of a project. For example, you have a certain overhead for any project; the cost of the facility, utilities, supplies, equipment, networks, etc. Even project management is an operational cost. Most organizations establish a percent to apply to the cost of the project as an overhead (operational) cost.)

2. Give seven reasons scheduling resources is an important task.