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Project costs_Assessment 1_S40050088.pdf

Project costs_Assessment 1_S40050088.pdf - Project...

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Project Management Project costs Assessment 1 Victor Gonzalez S40050088 1. Give examples of budgeting processes, tools and techniques. Budgeting Processes Firstly, it is necessary to review last budgets and forecasts for the same business and period and compare this numbers with real results in a set time. Later, in a second stage budget analysts should estimate a Budget in relation to last real period at the same season or time in discussion. Lastly, once having the Budget estimated it is necessary to seek for a feedback from stakeholders. This point is very important because stakeholders are the members who will take the decision to invest and inject money, so the budget should seem interesting and certain based in every point described to obtain a better estimation. Budgeting Tools Microsoft Excel Spreadsheets Accounting Software Database available from the business e.g. materials, employee salaries etc.
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