Explain about the budgeting process in risk management, Project Management

Assignment Help:

Explain about the budgeting process in risk management.

The budgeting process:

A budget is a quantified or forecast plan of action. A quantified financial plan of action that itemises a projects income and expenditure assigned for example a list of all planned expenses and income. Budgetary planning makes a budget like part of the planning process for the project. It control compares the budgeted outcomes as a ‘yardstick’ or target, within comparison to real results, so as to quantify any variances or deviations through the project plan. Such process at regular intervals during a project can be used to get control action and bring real results in line along with the plans.


Related Discussions:- Explain about the budgeting process in risk management

The project manager and the project owner, X Company, a private security fi...

X Company, a private security firm, has signed a contract to fund the design, construction and running of a local police station. This arrangement is a public private partnership a

Framework for organisational culture, According to Schein (2004),culture is...

According to Schein (2004),culture is essentially an established pattern of behavior built on shared basic assumptions generated by tackling crucial external adaptions and internal

Group technology or cellular manufacturing (cm) layout, Group Technology or...

Group Technology or Cellular Manufacturing (CM) Layout In group Technology /Cellular Manufacturing ( C M ) Machines are grouped into cells and the cells function somewhat like

Threats of canon, what is the compny competitors doing?

what is the compny competitors doing?

Process capability - tqm, Multiplicity of processes available for a job th...

Multiplicity of processes available for a job the selection of an appropriate process is not an easy matter. Choosing a process with over capability is as bad as choosing one w

Merits of external recruitment-human resource management, External recruitm...

External recruitment has certain merits: The selection of staff can be made from a much greater number of people. It brings individuals into the organization who have d

Approaches of soft systems methodology and socio-technical, Why are approac...

Why are approaches as like the Soft Systems Methodology, Business Process Reengineering and the Socio-Technical Approach relevant to IS project managers? The development of inf

To help local producers by restricting international trade, Attempts by a c...

Attempts by a country to help local producers by restricting international trade is known as   protectionism.

Tools and techniques of layout planning - line balancing, Tools and Techniq...

Tools and Techniques of layout planning - Line Balancing Line balancing is the phases of assembly line study that nearly equally divides the work to be done among the workers

Kilbridge and wester method of line balancing, Kilbridge and Wester Method ...

Kilbridge and Wester Method of line Balancing Kilbridge and Wester propose this method. Here numbers are assigned to each operations describing how many predecessors it has.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd