A Successful Technology Project Entails Considering The End Goal Of The Organization

1774 Words Oct 8th, 2016 8 Pages
The makings of a successful technology project entails considering the end goal of the project while taking into account the day to day operations of the organization. Neglecting the everyday budget items for the sake of a single one time project will deem the mission of the organization dismissive. Managing the operating budget involves monitoring and accounting for the line items utilized to manage the day to day or recurring details that makes the organization functional. Barr and McClellan (2011) warned against neglecting such actions. Avoiding the pitfalls of mismanaging the budget is essential to the financial success of any organization as well as the subsequent projects proposed. To fully understand the importance of the operating budget one must understand what an operational budget is and what it encompasses. Business Dictionary (n.d.) defined an operating budget as “a detailed projection of all estimated income and expenses based on forecasted sales revenue during a given period (usually one year)”. Bradford (n.d.), offered “an operating budget is a combination of known expenses, expected future costs, and forecasted income over the course of a year” (para. 1); and Johnston (n.d.) further explained that these expenses are day to day expenses that can significantly impact the capital budget. These effects can be significant enough to bring the major projects to a halt. Item such as the correct calculations, proper budget monitoring, and accurate budget…

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