Using Activity-Based Costing and a Cost Breakdown Structure
nov 12, 2011
Activity-based costing is seen as the most accurate way to build a project budget. While top-down estimation has its advantages, it is not as accurate as starting at the bottom of your project’s WBS and aggregating project costs upward. Activity-based costing requires that the folks involved in the estimating activities have some expertise in the work […]
Let’s Talk About Effective Project Budgeting
nov 8, 2011
Budgeting helps you create an action plan for arriving at your project’s objectives and strategic milestones. Effective project budgeting requires you to have measurable quantities of your expected project resources and should also account for any anticipated business benefits your project will provide to the organization. You should build your project budget at two levels: […]
