Combined content v0.2. Topic title/heading Budgeting and control Definition
|
|
- Darlene Flynn
- 6 years ago
- Views:
Transcription
1 Topic title/heading Budgeting and control Definition No more than a few sentences required approximately 30 words. It should be succinct, and wherever possible, independent of the level of project/programme/portfolio at which the section is applied. Budgeting and cost management is the estimating of costs and the setting of an agreed budget, and the management of actual and forecast costs against that budget. General Generic description of the topic including universal principles independent of project/programme/portfolio levels in no more than 500 words. Any terms that tie the text to a particular level should be avoided. In some cases, especially in sections 1 and 4, this will be most, if not all of the content. A budget is a plan that outlines an organisation's financial and operational goals. It is a plan of action for achieving quantified objectives and provides a standard for measuring performance as well as being used in forecasting. When an organisation wishes to run initiatives, such as change programmes or projects, either as standalone or within a portfolio, funds will be needed and so an investment appraisal will be carried out. A primary input to this appraisal is a business case that contains an initial cost estimate. This initial estimate will be refined as the feasibility and desirability of the initiative is investigated further and a greater understanding is developed on scope, business deadlines and resources, to form a base cost estimate. To address uncertainty, including risks and possible lack of clarity on the final products of the initiative, contingency and management reserve will be factored in as additions to the base cost estimate. When the cost estimate is agreed with the sponsor, this becomes the budget for the initiative. Budgeting is concerned with: providing a forecast of expenditures (and possible revenues) enabling the monitoring of actual expenditures the possible reforecasting of expenditures. Forecast and actual expenditures are profiled on a regular time basis that typically fits with the general accounting procedures of the sponsoring organisation; e.g., on a monthly basis at month end. Where an organisation is running a portfolio or programme, consistency will be required in how budget items are described and monitored across projects. Agreed categories will be defined and these will often match the organisation s general accounting categories (e.g., CAPEX and OPEX itemised). As running initiatives generally sits outside business-as-usual for most organisations, relevant historical budgets are unlikely to exist and so the monitoring of the budget is a critical activity. Of interest are: Committed costs these reflect the placement of orders for work to be performed or goods or items to be purchased or for subcontract activity, and is the amount of funds represented by the orders Accruals work partially or fully completed for which payment is due but has not been made Actual expenditure the funds that have been consumed Forecast out-turn cost the total of actual expenditure, accruals, commitments and the estimate of the costs to complete the work to the end of the initiative. The relevance of a number of these is shown, for a single project, in figure 1, where the base cost estimate is shown profiled over time as the project budget. Although this is the basis for the reported view on project expenditure, the full sunk costs for the project is likely to include committed spend or penalties against cancelling outstanding orders. Figure 1. Page 1 of 5
2 Project dimensions to the topic An explanation of the application of this topic at a project level is to be included here in no more than 420 words. Anything that applies to programmes and portfolios as well as projects should be included in the general section. This section may reasonably be divided into projects that are part of a programme, and those that are independent components of a portfolio. N.B. The APM definition of a project is: A unique and transient endeavour undertaken to achieve a desired outcome. The three major components of a project budget are: the base cost estimate contingency management reserve. In essence, the base cost estimate is for the known knowns in the project. The day-to-day resourcing costs (e.g., daily staff rates and consultants per diem fees) Accommodation costs (e.g., rent) Consumables (e.g., power and IT supplies) Expenses (e.g., travel and subsistence) Capital items (e.g., purchase of items for use within the project, such as software packages, and items that may be (partial) outputs, such as a new manufacturing plant and new delivery vehicles). Other direct costs (e.g., training programmes) Indirect costs to the initiative (e.g., administrative charges and insurance). As part of planning, the base cost estimate will be profiled over time to form the performance measurement baseline (PMB). Contingency should be for the known unknowns. This is money set aside for identified risks and usually covers risk responses if one or more risks mature, while management reserve is for the unknown unknowns. This is to cover things that might surface during the initiative, such as extra activities to produce needed products that had not been identified earlier. The more uncertainty there is on the deliverable, the more management reserve is required. This uncertainty could, e.g., be due to a lack of clarity on the requirements, simply because of the novelty of what is Page 2 of 5
3 being attempted. Expenditure of the three components should be managed like three different bank accounts : the base cost estimate that forms the PMB is the current account for the project; contingency is a savings account for things that we know about that might happen, and management reserve is an emergency account for the unexpected. There should be strict guidelines or rules for moving monies between these accounts. In many organisations the project manager is given control of the base cost estimate budget component, while the sponsor retains control of the management reserve. Contingency should be under the control of the project manager, but may be held by the sponsor or as part of a larger organisational contingency fund. Within a programme it will be the case that both management reserve and contingency will be controlled at the programme level. During the execution of the project, the PMB provides the focus for expected costs profiled over time. This profile will be determined by: the products of the project (the product breakdown structure PBS), how they are to be built or acquired (the work breakdown structure WBS), when they are planned to be produced and the number and types of resources to be used to produce them (the organisational breakdown structure OBS and schedule) Capital expenditures and when they are expected to be an expense to the initiative Other direct costs Indirect costs to the projects. Taken together, a cost breakdown structure (CBS) can be produced, which shows costs against budget categories profiled over time. The PMB can be used as the basis for earned value management (EVM), which provides a way of monitoring expenditure against achievement and, importantly, provides an approach to forecast out-turn cost and, more questionably, project duration. As part of monitoring, the performance of the project should be reviewed at regular intervals, including a review of scope, schedule, risk and opportunity to assist with the assessment of cost performance. Identifying and taking corrective action to minimise adverse variances against budget is necessary for effective control. Any changes resulting from the reviews should be formally approved and introduced in a controlled way to the project baseline. Such reviews form part of earned value management. Programme dimensions to the topic An explanation of the application of this topic at a programme level is to be included here, where applicable. Where the general principles need to be adapted, enhanced or extended for specific programme application, where content is different or additional to that for project aspects to this topic above, it may be added below in no more than 420 words. Anything that applies to projects and portfolios as well as programmes should be included in the general section. If there are no such applicable adaptations, enhancements or extensions, please enter the following text in the space provided NO SPECIFIC ADAPTATION REQUIRED OF THE TOPIC FOR PROGRAMME MANAGEMENT. N.B. The APM definition of a programme is: A group of related projects, which may include business-as-usual activities that together, achieve a beneficial change of a strategic nature for an organisation. For a programme to spend its budget three things are needed: - approval of the programme's business case - authority to spend the budget, i.e. funds have been released (e.g. for the current financial year) - programme financial governance (includes how both programme and project budget will be controlled). Programmes frequently cut across operational structures, e.g. vertical silos so the programme manager must ensure they know which budget is funding the programme and who controls that budget. The programme may be funded from more than one budget. Programmes commonly last longer than a year so the programme's sponsor must ensure that the programme funding will be maintained between financial years, especially if from an operational budget. Page 3 of 5
4 Programme governance in terms of financial control will usually have follow as appropriate, corporate financial governance standards. Either the programme manager or programme management office should liaise with the finance department, or with the enterprise portfolio management office (EPMO). Within any external rules, the programme sets the budget governance for the programme as a whole and its projects, and should include: - forecasting and tracking of actuals - reporting; responsibilities, content and timetable - exception handling and escalation process at project level and programme - how financials and programme/project schedules are matched Programme financial control must ensure that value is being gained from expenditure. Both programme and project forecasts should indicate what physical progress should be made for a given investment. Earned value management is a highly valuable technique for determining whether a physical progress matches the expended investment and is recommended. Actual costs will be tracked either directly or indirectly by the programme. Frequently, programme and project managers are reliant on information from operational finance systems. This information will need to be checked (e.g. by the programme management office) to ensure that costs have been posted correctly to the programme or its projects. Where there is a programme management office, the PMO will liaise with finance, EPMO for financial control standards and communicate these to projects in the programme. The PMO will collate returns from projects and provide programme budget information to the programme manager and external stakeholders. Portfolio dimensions to the topic An explanation of the application of this topic at a portfolio level is to be included here, where applicable. Where the general principles need to be adapted, enhanced or extended for specific portfolio application, where content is different or additional to that for project and programme aspects to this topic above, it may be added below in no more than 420 words. Anything that applies to projects and programmes as well as portfolios should be included in the general section. If there are no such applicable adaptations, enhancements or extensions, please enter the following text in the space provided NO SPECIFIC ADAPTATION REQUIRED OF THE TOPIC FOR PORTFOLIO MANAGEMENT. N.B. The APM definition of a portfolio is: A grouping of an organisation s projects, programmes and related business-as-usual activities taking into account resource constraints. Portfolios can be managed at an organisational, programme or functional level. Further reading All cited references, and items for further reading should be listed together in a section headed, further reading. You may use the Harvard system of referencing. This requires the author name, title, date of publication, publisher and place of publication. Provide us with these basic details and our copy editors will be able to complete the task. APM Guidelines for Earned Value Management Brooks, Frederick P., (1995), The Mythical Man-Month, Addison Wesley Longman Inc., ISBN Page 4 of 5
5 The Scheduling Maturity Model (2010) APM White Paper APM Earned Value SIG The Earned Value Management Compass (2010) APM Publishing, Princes Risborough, ISBN APM Earned Value SIG (2002) Earned Value Management: APM Guidelines, APM Publishing, Princes Risborough, ISBN Office for Government Commerce (OGC) Managing Successful Projects with PRINCE2 (2009), TSO, ISBN Page 5 of 5
Earned Value Management Training Program
Earned Value Management Training Program Course Brochure and Competency Matrix INDEX: 1. Company Introduction 2. Training Programme Description 3. Training Delivery Options 4. Course Syllabus 5. Programme
More informationEarned Value and PRINCE2 Alex Davis. Programme Manager Close Combat Programme Support Office Ministry of Defence
Earned Value and PRINCE2 Alex Davis Programme Manager Close Combat Programme Support Office Ministry of Defence PRINCE2 is a Registered Trade Mark of the Office of Government Commerce in the United Kingdom
More informationJohn Chapman. Earned Value and PRINCE2
Earned Value and PRINCE2 John Chapman PRINCE2 is a Registered Trade Mark of the Office of Government Commerce in the United Kingdom and other countries. Why are we here? Do PRINCE2 and Earned Value relate
More informationCONTROL COSTS Aastha Trehan, Ritika Grover, Prateek Puri Dronacharya College Of Engineering, Gurgaon
CONTROL COSTS Aastha Trehan, Ritika Grover, Prateek Puri Dronacharya College Of Engineering, Gurgaon Abstract- Project Cost Management includes the processes involved in planning, estimating, budgeting,
More informationEarned Value Management Handbook. arne. alu
Earned Value Management Handbook arne alu March 2013 Table of contents Contents 1 Introduction 7 2 Overview 8 3 Definition 39 4 Planning 57 5 Data collection 77 6 Analysis, review and action 80 7 Change
More informationKey Aspects for Managing a Project
Key Aspects for Managing a Project What is a Project? Definition: A project is a temporary endeavor undertaken to create a unique product, service or result. The temporary nature of projects indicates
More informationDecommissioning Basis of Estimate Template
Decommissioning Basis of Estimate Template Cost certainty and cost reduction June 2017, Rev 1.0 2 Contents Introduction... 4 Cost Basis of Estimate... 5 What is a Basis of Estimate?... 5 When to prepare
More informationEarned Value Management in IT A Tiered Approach (Making change stick) John Chapman Touchstone Ltd
Earned Value Management in IT A Tiered Approach (Making change stick) John Chapman Touchstone Ltd john.chapman@touchstone.co.uk John Chapman: Publications Project and Programme Accounting The Gower Handbook
More informationLearning Legacy Document
PROGRAMME CONTROLS - COST Performance Measurement Procedure Current Document History: Revision: Effective Date: Document Number: CRL1-XRL-Z9-GPD-CR001_Z-50001 Author(s) Reviewed by: Approved by: Reason
More informationPROJECT COST MANAGEMENT
PROJECT COST MANAGEMENT Planning DETERMINE BUDGET PROCESSES BY PROCESS GROUP Monitoring and Controlling 7.1 Plan Costs Management 7.4 Control Costs 7.2 Estimate Costs 7.3 Determine Budget DETERMINE BUDGET
More informationInternational Project Management. prof.dr MILOŠ D. MILOVANČEVIĆ
International Project Management prof.dr MILOŠ D. MILOVANČEVIĆ Project time management Project cost management Time in project management process Time is a valuable resource. It is also the scarcest. Time
More informationLesson 7 The Project Budget
MBA, Msc, Bsc, PMP, CSM, PMI-ACP Indike Manthilake MBA, Msc, Bsc, CSM, PMI-ACP indikem@unitedmotors.lk.com Lesson 7 The Project Budget Agenda Estimate Costs and income Creating a Preliminary Budget Budget
More informationProject Control. Ongoing effort to keep your project on track Prerequisite to good control is a good plan Four primary activities:
Project Control 1 Project Control Ongoing effort to keep your project on track Prerequisite to good control is a good plan Four primary activities: 1. Planning performance Software Development Plan, schedule,
More informationPricing Cost Assurance and Analysis Service (CAAS) Estimates Constraints
Pricing Cost Assurance and Analysis Service (CAAS) Estimates Constraints None. Authoritative Guidance Summary 1. Cost Assurance and Analysis Service (CAAS) provide a range of services for the Defence Equipment
More informationEstimating Project Times and Costs
CHAPTER FIVE Estimating Project Times and Costs Copyright 2014 McGraw-Hill Education. All Rights Reserved. PowerPoint Presentation by Charlie Cook Where We Are Now 5 2 Estimating Estimating Projects The
More informationPROJECT IMPLEMENTATION DOCUMENT NO.2 REPORTING TEMPLATES & E-TOOL
Establishing the European Geological Surveys Research Area to deliver a Geological Service for Europe PROJECT IMPLEMENTATION DOCUMENT NO.2 REPORTING TEMPLATES & E-TOOL Joint Call on applied geoscience
More informationJefferson Science Associates, LLC. 900 Glossary. Project Control System Manual Revision 7
Jefferson Science Associates, LLC 900 Glossary Project Control System Manual Revision 7 900 Glossary Actual Cost of Work Performed (ACWP) The direct costs incurred in accomplishing the project work activities,
More informationEarned Value Formulae
Earned Value Formulae This White Paper focuses on the basic values and formulae used in Earned Value calculations. Additional EV resources are available from https://mosaicprojects.com.au/pmki-sch.php
More informationThe Project Times and Costs
The Project Times and Costs Not to underestimate the estimate Chapter 5 Defining the Project Step 1: Defining the Scope Step 2: Establishing Priorities Step 3: Creating the Work Breakdown Structure Step
More informationAppendix B: Glossary of Project Management Terms
Appendix B: Glossary of Project Management Terms Assumption - There may be external circumstances or events that must occur for the project to be successful (or that should happen to increase your chances
More informationPMI PMI-SP. PMI Scheduling Professional. Download Full Version :
PMI PMI-SP PMI Scheduling Professional Download Full Version : http://killexams.com/pass4sure/exam-detail/pmi-sp QUESTION: 311 A company hires a scheduler for one of its projects. What skills should he
More informationLCS International, Inc. PMP Review. Chapter 5 Developing Project Budgets. Presented by David J. Lanners, MBA, PMP
PMP Review Chapter 5 Developing Project Budgets Presented by David J. Lanners, MBA, PMP These slides are intended to be used only in settings where each viewer has an original copy of the Sybex PMP Study
More informationPROJECT MANAGEMENT BODY OF KNOWLEDGE
A Guide to the PROJECT MANAGEMENT BODY OF KNOWLEDGE (PMBOK GUIDE ) Sixth edition Chapter 7 Project Cost Management PMBOK is a registered mark of the Project Management Institute, Inc Slide # 1 3FOLD Education
More informationProject Appraisal, Scoping and Estimation. Week 3
Project Appraisal, Scoping and Estimation Week 3 Last Week What is Project Management? Project Definition i i Stakeholder Management Organizing the Project This Week Defining the Project Project Appraisal
More informationProject Management. Session 5 Budgets and Estimation Andre Samuel
Project Management Session 5 Budgets and Estimation Andre Samuel This Session Budgets and Estimation Estimation Principles Estimation Techniques Cost Estimating Estimation Principles Prediction of project
More informationProject and Communication Management
Project and Communication Management Chapter 5 Learning objectives: Estimating Projects Estimating The process of forecasting or approximating the time and cost of completing project deliverables. The
More informationPRINCE2 Style Exam Questions
PRINCE2 Style Exam Questions The following questions are designed to test your PRINCE2 knowledge to Foundation level. These 25 questions should be completed within approximately 20 minutes. After completing
More informationLIFE Environment and Resource Efficiency TECHNICAL APPLICATION FORMS Part A administrative information
LIFE Environment and Resource Efficiency TECHNICAL APPLICATION FORMS Part A administrative information Page 1 of 32 Printed out on : 12/05/2016 05:03 LIFE15 ENV/IT/000007 LIFE 2015 FOR ADMINISTRATION USE
More informationPMP Exam Preparation Course. Madras Management Training W.L.L All Rights Reserved
Project Cost Management 1 Project Cost Management Processes 1. Estimate Costs 2. Determine Budget 3. Control Costs In some projects, especially with smaller scope, cost estimation and cost budgeting are
More informationBraindumps.PRINCE2-Foundation.150.QA
Braindumps.PRINCE2-Foundation.150.QA Number: PRINCE2-Foundation Passing Score: 800 Time Limit: 120 min File Version: 29.1 http://www.gratisexam.com/ I was a little apprehensive at first about an online
More informationProject Controls Expo
Project Controls Expo 09/10 Nov London 2011 Integrating Risk and Earned Value Management Speaker Profile Since joining BMT in 2000, Edwina has provided Project Controls expertise to MoD Programme teams
More informationIntroduction to Project Management. Modeling after NYS ITS
Introduction to Project Management Modeling after NYS ITS What is Project Management? Project management is the application of knowledge, skills, tools and techniques to project activities to meet project
More informationAttachment C: How capital expenditure is proposed and approved under the capex IM
ISBN no. 978-1-869455-84-2 Project no. 14.09/16274 Public version Attachment C: How capital expenditure is proposed and approved under the capex IM Transpower capex input methodology review - Proposed
More informationSPECIAL CONDITIONS OF TENDER
Page 1 SPECIAL CONDITIONS OF TENDER A. INTRODUCTION The following documents are available on http://emits.esa.int/ under "Reference Documentation" --> "Administrative Documents": ESA Procurement Regulations
More informationMINI GUIDE. Project risk analysis and management
MINI GUIDE Project risk analysis and management Association for Project Management January 2018 Contents Page 3 Introduction What is PRAM? Page 4 Page 7 Page 9 What is involved? Why is it used? When should
More informationProject Management Certification. Multiple Choice Questions
Project Management Certification (PMP) Project Management Certification (PMP) Multiple Choice Questions QUESTION 1 In Project Cost Management, which input is exclusive to the Determine Budget process?
More informationPRINCE2. Number: PRINCE2 Passing Score: 800 Time Limit: 120 min File Version:
PRINCE2 Number: PRINCE2 Passing Score: 800 Time Limit: 120 min File Version: 1.0 Exam M QUESTION 1 Identify the missing word(s) from the following sentence. A project is a temporary organization that is
More informationRisk Management Plan Project Name: Version 1.0 Date: dd/mm/yyyy
Risk Management Plan Project Name: Version 1.0 Date: dd/mm/yyyy Contents DOCUMENT OVERVIEW... 3 RISK METHODOLOGY... 3 RISK IDENTIFICATION... 3 Risk Categories... 3 RISK ANALYSIS... 4 RISK RESPONSE PLANNING...
More informationEarned Value Management. Danielle Kellogg. Hodges University
Earned Value Management 1 EARNED VALUE MANAGEMENT Earned Value Management Danielle Kellogg Hodges University Earned Value Management 2 Abstract Earned Value Management has been used with enterprise-level
More informationManaging Project Risk DHY
Managing Project Risk DHY01 0407 Copyright ESI International April 2007 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or
More informationIP-CIS : CIS Project Management
Meltem Özturan www.mis.boun.edu.tr/ozturan/mis301 1 Project Management Tools and Techniques (PMTT) Feasibility Analysis Organizational Breakdown Structure Work Breakdown Structure Scheduling Earned Value
More informationPRINCE2-PRINCE2-Foundation.150q
PRINCE2-PRINCE2-Foundation.150q Number: PRINCE2-Foundation Passing Score: 800 Time Limit: 120 min File Version: 6.0 Exam PRINCE2-Foundation Version: 6.0 Exam A QUESTION 1 What process ensures focus on
More informationSUSTAINABLE URBAN MOBILITY PLAN TRAINING WORKSHOP. Module 6 Implementation Plan
SUSTAINABLE URBAN MOBILITY PLAN TRAINING WORKSHOP Module 6 Implementation Plan Sustainable Urban Mobility Plans: Delivery & Implementation Plans Identifying phased approach to delivery and programming
More informationPROJECT MANAGEMENT DIPLOMA COURSE
PROJECT MANAGEMENT DIPLOMA COURSE UNIT THREE PROJECT PLANNING TUTOR TALK: The Learning Outcomes for this assignment are: Describe the following: o Planning parameters o Planning quality o Developing a
More informationPRINCE2 Style Exam Answers
PRINCE2 Style Exam Answers Correct answers are marked in red. Business Case 1) Formal approval of the Business Case is required from the executive to ensure there is senior management commitment to the
More informationM_o_R (2011) Foundation EN exam prep questions
M_o_R (2011) Foundation EN exam prep questions 1. It is a responsibility of Senior Team: a) Ensures that appropriate governance and internal controls are in place b) Monitors and acts on escalated risks
More informationeurope GENEVA 2009 Haute école de gestion de Genève Geneva School of Business Administration EVA Europe 2009 was jointly organised by Gold Sponsors
eva europe GENEVA 2009 2009, CERN, HEG, Authors - This material is provided courtesy of EVA Europe 2009, the European organisation for nuclear research(cern), the Geneva School of Business administration
More informationContingency Reserve and Uncertainty
Contingency Reserve and Uncertainty By Carol Elzink 25 June 2012 Overview This whitepaper discusses the importance of, and clarifies Uncertainty and the Funding Reserves required to provide a complete
More informationGOVERNMENT ELECTRONICS AND INFORMATION TECHNOLOGY ASSOCIATION
GEIA STANDARD ANSI/EIA-748-B-2007 Approved: September 10, 2007 EIA-748-B Earned Value Management Systems EIA-748-B JUNE 2007 GOVERNMENT ELECTRONICS AND INFORMATION TECHNOLOGY ASSOCIATION A Sector of the
More informationThe PRINCE2 Practitioner Examination. Sample Paper TR. Answers and rationales
The PRINCE2 Practitioner Examination Sample Paper TR Answers and rationales For exam paper: EN_P2_PRAC_2017_SampleTR_QuestionBk_v1.0 Qu Correct Syll Rationale answer topic 1 A 1.1a a) Correct. PRINCE2
More informationJKUAT RESEARCH GUIDELINES. Format and Guidelines for Writing a Research Proposal ANNEX IV
JKUAT RESEARCH GUIDELINES Format and Guidelines for Writing a Research Proposal ANNEX IV 1.0 Cover Page The project document must bear the standard official cover page for JKUAT-originated research proposals.
More informationProject Management for EPC Contracts Presented by: Dr. Jamal F. AlBahar, PMP, VMA Registered Arbitrator; Member: PMI, CMAA, AACE, AAA, PMA, CSI, SAVE
Project Management for EPC Contracts Presented by: Dr. Jamal F. AlBahar, PMP, VMA Registered Arbitrator; Member: PMI, CMAA, AACE, AAA, PMA, CSI, SAVE INTRODUCTION: Project Management for Engineering and
More informationPRINCE2 Sample Papers
PRINCE2 Sample Papers The Official PRINCE2 Accreditor Sample Examination Papers Terms of use Please note that by downloading and/or using this document, you agree to comply with the terms of use outlined
More informationAssociation for Project Management 2008
Earned Value Management APM Guidelines Earned Value Management APM Guidelines Association for Project Management Association for Project Management Ibis House, Regent Park Summerleys Road, Princes Risborough
More information75 working days spread over 4 months with possibility of extension 1. BACKGROUND
TERMS OF REFERENCE 1. Environmental Finance Expert Contracting Agency: Coordinating Agency: Place: Expected duration: United Nations Development Programme (UNDP) Bhutan UNDP Country Office Thimphu, Bhutan.
More informationGuide to Earned Value Management (EVM) Scalability for Non-Major Acquisition Implementations
Guide to Earned Value Management (EVM) for Non-Major Acquisition Implementations Prepared by the Civilian Agencies and Industry Working Group (CAIWG) March 2015 CAIWG Guide to EVM Table of Contents Introduction...
More informationPRINCE2 - Work Package
Created/updated 05/11/17 PRINCE2 - Work Package Downloaded from stakeholdermap.com. Visit Prince2 Templates for more Prince2 downloads. Get a Mind Map Work Package template Project
More informationDepartment of Industrial Engineering
Department of Industrial Engineering Engineering Project Management Presented By Dr. Abed Schokry Chapter 15: Cost Control Learning Outcomes After completing this chapter students should be able to: Define
More informationEarned Value Management Tutorial Module 4: Budgeting. Prepared by:
Earned Value Management Tutorial Module 4: Budgeting Prepared by: Module 4: Budgeting Welcome to Module 4. The objective of this module is to introduce you to Budgeting Concepts and Definitions. The Topics
More information[Project Title] Project Scope Statement
[Project Title] Project Scope Statement Prepared by: Version: Date: Project Sponsor: Project Manager: Senior Manager: Approval Signatures Project Sponsor Project Manager Senior Manager/s Other Stakeholder
More informationPMP. Preparation Training. Cost Management. Your key in Successful Project Management. Cost Management Processes. Chapter 7 6/7/2005
PMP Preparation Training Your key in Successful Project Management Akram Al-Najjar, PMP Cost Management Processes Chapter 7 Cost Management Slide 2 1 AGENDA What is Cost Management? Cost Management Processes
More informationMajor Projects Advisory Project Leadership Series
KPMG GLOBAL ENERGY INSTITUTE Major Projects Advisory Project Leadership Series February 7, 2013 Disclaimer The information contained herein is of a general nature and is not intended to address the circumstances
More informationChapter 5: Estimating Project Times and Costs 4KF3
Lecture Notes Importance of Estimates Support good decisions Schedule work o Make sure your team members can take on added work of project Determine length of project and costs o Projects can be cancelled
More informationProject Controls Professional? We need the facts ma am, just the facts. Alex Davis PMC SIG 17 th September 2013
Project Controls Professional? We need the facts ma am, just the facts. Alex Davis PMC SIG 17 th September 2013 Introduction Why do Project Management professionals need facts? What happens when we don
More informationAdministration. Course Aim. Introductions
Practical Application of Earned Value Performance Measurement presented by Paul E Harris of Eastwood Harris Pty Ltd Copyright Copyright 2010 by Eastwood Harris Pty Ltd. No part of this publication may
More informationActualtests.PRINCE2Foundation.120questions
Actualtests.PRINCE2Foundation.120questions Number: PRINCE2 Passing Score: 800 Time Limit: 120 min File Version: 4.8 http://www.gratisexam.com/ PRINCE2 Foundation PRINCE2 Foundation written Exam 1. Dump
More informationCabinet Committee on State Sector Reform and Expenditure Control STAGE 2 OF TRANSFORMING NEW ZEALAND S REVENUE SYSTEM
Cabinet Committee on State Sector Reform and Expenditure Control In Confidence Office of the Minister of Revenue STAGE 2 OF TRANSFORMING NEW ZEALAND S REVENUE SYSTEM Proposal 1. This paper provides an
More informationINTEGRATING RISK AND EARNED VALUE MANAGEMENT
INTEGRATING RISK AND EARNED VALUE MANAGEMENT A White Paper Contents Introduction... 3 Integrating Risk and Earned Value Management Processes... 3 Using Risk Mitigation to Improve Value... 4 An Integrated
More information1890 Project Management
1890 Project Management Presenters: 101 Lois Burg, Office of Sponsored Programs (OSP) Craig Warner, College of Agriculture and Human Sciences (CAHS) 02 TOPICS OF DISCUSSION Techniques for 1. Program Management
More informationSolved MCQs Of CS615 effort, risks, and resources are the factors included in
Solved MCQs Of CS615 http://www.vustudents.netcost, effort, risks, and resources are the factors included in-------- Estimation Testing Development Maintenance Question No: 5 ( Marks: 2 ) - Please choose
More informationOREGON STATE UNIVERSITY CM/GC CONTRACT. (Construction Manager/General Contractor)
OREGON STATE UNIVERSITY CM/GC CONTRACT (Construction Manager/General Contractor) THE CONTRACT IS BETWEEN: OWNER: Oregon State University And CONSTRUCTION MANAGER/ GENERAL CONTRACTOR (referred to as Contractor
More informationPrince2 Foundation.exam.160q
Prince2 Foundation.exam.160q Number: Prince2 Foundation Passing Score: 800 Time Limit: 120 min PRINCE2 Foundation PRINCE2 Foundation written Exam Sections 1. Volume A 2. Volume B Exam A QUESTION 1 Which
More informationBudget & Finances. Interreg Europe Secretariat. 23 March 2016 Lead applicant workshop. Sharing solutions for better regional policies
European Union European Regional Development Fund Sharing solutions for better regional policies Budget & Finances Interreg Europe Secretariat 23 March 2016 Lead applicant workshop Session content 1. Preliminary
More informationProject Management. Estimating Project Times and Costs. Clifford F. Gray Eric W. Larson Third Edition. Chapter 5
Project Management THE MANAGERIAL PROCESS Clifford F. Gray Eric W. Larson Third Edition Chapter 5 Estimating Project Times and Costs Copyright 2006 The McGraw-Hill Companies. All rights reserved. PowerPoint
More informationCOPYRIGHTED MATERIAL. Index
Index Note to the reader: Throughout this index boldfaced page numbers indicate primary discussions of a topic. Italicized page numbers indicate illustrations. A A+ certification, 28 acceptance criteria
More informationTHE POLAND-RUSSIA CROSS-BORDER COOPERATION PROGRAMME ST CALL FOR PROPOSALS BUDGET
THE POLAND-RUSSIA CROSS-BORDER COOPERATION PROGRAMME 2014-2020 1 ST CALL FOR PROPOSALS BUDGET PROJECT BUDGET Project budget shall include only: ELIGIBLE COSTS Direct BH 1 Staff costs Indirect BH 7 Administrative
More informationUCISA TOOLKIT. Major Project Governance Assessment. version 1.0
UCISA TOOLKIT Major Project Governance Assessment version 1.0 Contents Introduction 1 Roles and responsibilities 2 Definition of a Major Project 3 Guidance for using the Toolkit 4 Governance elements 4
More informationGUIDE TO BUDGET PREPARATION FOR PROGRAMMES IN THE CIVIL SOCIETY FUND (CSF)
GUIDE TO BUDGET PREPARATION FOR PROGRAMMES IN THE CIVIL SOCIETY FUND (CSF) JUNE 2018 VERSION 1.2 CONTENT 1. VALIDITY OF THE GUIDE... 2 2. GENERALLY ABOUT BUDGETS FOR A PROGRAMME... 2 3. CONCEPT NOTE BUDGET
More informationJKUAT RESEARCH GUIDELINES Format and Guidelines for Writing a Research Proposal ANNEX IV
36 JKUAT RESEARCH GUIDELINES Format and Guidelines for Writing a Research Proposal ANNEX IV 1.0 Cover Page The project document must bear the standard official cover page for JKUAToriginated research proposals.
More informationEAN.UCC Project Management Framework Handbook. Issue Version 3.0
EAN.UCC Project Management Framework Handbook Issue Version 3.0 Document Information Document Summary Document Item Document Title (auto, from properties) File Name (auto) PMFH Issue Version 3 Template
More informationProfessional Development Seminar Series
Professional Development Seminar Series Feb, 2019 2019. All rights reserved. online@3foldtraining.com. www.pmexamstudy.com. www.3foldtraining.com. PMP Exam Review Agenda Introduction to Definition Context
More informationA Second Runway for Gatwick Appendix. A21 Programme Risk Management
A Second Runway for Gatwick Appendix A21 Programme Risk Management London Gatwick Airport Expansion Airport Commission Programme Risk Management Report Turner & Townsend 7 Savoy Court London WC2R 0EX
More informationProject Planning Unveiled
Project Planning Unveiled Mark Norman Oxford University Computing Services 16 November 2006 1 An introduction? Me a project manager? You?? This isn't a technical course! Although we will have a look at
More informationDOWNLOAD PDF BUDGETING AND MANAGING RESOURCES
Chapter 1 : Budgeting and cost control APM Project budget management is a set of activities for estimating the necessary amount of financial resources for the project, controlling project costs within
More informationEarned Value Management System
DEPARTMENT OF VETERANS AFFAIRS Office of Information and Technology Earned Value Management System Description Document VA-DI-MGMT-81466A RECORD OF CHANGES Change Number Date Reference (Page, Section,
More informationLIFE WRITERS WORKSHOP: CONCEPT NOTE
LIFE WRITERS WORKSHOP: CONCEPT NOTE VILNIUS MAY 11, 2018 DIEGO MATTIOLI WHAT S THE MORNING PROGRAMME 9.15 9.45 Project Planning how to select the right funding line for your idea Spotlight on LIFE priority
More informationECMWF Copernicus Procurement
ECMWF Copernicus Procurement Invitation to Tender CLARIFICATIONS Clarifications issued 28 November 2017 ITT Ref: COP_031 ISSUED BY: ECMWF Administration Department Procurement Section We are pleased to
More informationECIPMC4 Estimate the project costs and agree the project budget
Estimate the project costs and agree the project budget Overview This standard is about estimating the project costs and agreeing the project budget. Project costs may involve; people, materials, equipment,
More informationVOLTA RIVER AUTHORITY
VOLTA RIVER AUTHORITY Capital Expenditure Guidelines November 2012 TABLE OF CONTENTS PAGE 1.0 Purpose and Scope of Guidelines...3 2.0 Projects Guidelines Apply To....4 3.0 Exemptions from Guidelines...4
More informationBIOSURF. (BIOmethane SUstainable and Renewable Fuel) Project Handbook (D1.1) Loriana PAOLUCCI & Stefano PROIETTI (ISIS)
(BIOmethane SUstainable and Renewable Fuel) Project Handbook (D1.1) Authors: Loriana PAOLUCCI & Stefano PROIETTI (ISIS) Version: Final Quality Review: Stefano PROIETTI Date: 28-02-2015 Grant Agreement
More informationPROJECT COST MANAGEMENT
PROJECT COST MANAGEMENT For the PMP Exam using PMBOK Guide 5 th Edition PMI, PMP, PMBOK Guide are registered trade marks of Project Management Institute, Inc. 1 Contacts Name: Khaled El-Nakib, PMP, PMI-RMP
More informationProject Title: INFRASTRUCTURE AND INTEGRATED TOOLS FOR PERSONALIZED LEARNING OF READING SKILL
Project Title: INFRASTRUCTURE AND INTEGRATED TOOLS FOR PERSONALIZED LEARNING OF READING SKILL Project Acronym: Grant Agreement number: 731724 iread H2020-ICT-2016-2017/H2020-ICT-2016-1 Subject: Dissemination
More informationRisk Management User Guide. Prepared By: Neville Turbit Version Feb /01/2009 Risk Management User Guide Page 1 of 36
Risk Management User Guide Prepared By: Neville Turbit Version 1.0 1 Feb 09 22/01/2009 Risk Management User Guide Page 1 of 36 Table of Contents Document Origin...2 Change History...2 Risk Guidelines...
More informationDATE: 14 th October 2016 Primary Care Co-Commissioning Due Diligence LEAD COMMITTEE MEMBER: Ahmet Koray, Chief Finance Officer (Islington CCG)
APPENDIX B OUTLINE DUE DILIGENCE INFORMATION DATE: 14 th October 2016 TITLE: Primary Care Co-Commissioning Due Diligence LEAD COMMITTEE MEMBER: Ahmet Koray, Chief Finance Officer (Islington ) AUTHOR: Daniel
More informationA Structured Approach to Modernising Government Financial Reporting
A Structured Approach to Modernising Government Financial Reporting Introduction Michael Parry and Jesse Hughes February 2017 DRAFT Many countries have embarked on the modernisation of their government
More informationBilateral Guideline. EEA and Norwegian Financial Mechanisms
Bilateral Guideline EEA and Norwegian Financial Mechanisms 2014 2021 Adopted by the Financial Mechanism Committee on 9 February 2017 09 February 2017 Contents 1 Introduction... 4 1.1 Definition of strengthened
More informationDownloaded from UNITED STATES DEPARTMENT OF ENERGY EARNED VALUE MANAGEMENT APPLICATION GUIDE
UNITED STATES DEPARTMENT OF ENERGY EARNED VALUE MANAGEMENT APPLICATION GUIDE VERSION 1.6 JANUARY 1, 2005 FORWARD Standards seldom can stand alone and always require interpretation and discussion. ANSI/EIA
More informationjune 07 tpp 07-3 Service Costing in General Government Sector Agencies OFFICE OF FINANCIAL MANAGEMENT Policy & Guidelines Paper
june 07 Service Costing in General Government Sector Agencies OFFICE OF FINANCIAL MANAGEMENT Policy & Guidelines Paper Contents: Page Preface Executive Summary 1 2 1 Service Costing in the General Government
More informationIT Certification Exams Provider! Weofferfreeupdateserviceforoneyear! h ps://
IT Certification Exams Provider! Weofferfreeupdateserviceforoneyear! h ps://www.certqueen.com Exam: PMI-002 Title : Certified Associate in Project Management (CAPM) Certification Version : DEMO 1 / 7 1.A
More informationFundamentals of Capital Cost Estimating A TCM approach. Lou Vidotto Managing Director of Vidotto Group
Fundamentals of Capital Cost Estimating A TCM approach Lou Vidotto Managing Director of Vidotto Group Contents 1. Background; 2. Introduction; 3. Total Cost management; 4. Types of Estimates; 5. WBS and
More information