Essay on Project Budget Cmgt/410
CMGT 410 Project Planning & Implementation
December 18, 2014
Carlos Perales, MSCIS
To: Corporate Office
From: Luis Pinon
CC: Anyone that you believe should be copied
Date: [ 1/7/2015 ]
Description of Project
The project for the company offsite 2 day training session has given a preliminary go-ahead. The budget of the project will determine any important factors that will impact the training project.
The company of AER has given the opportunity for all workers to get the training required. The budget of the 2-day training session project will recover any expenses that occur before the initiation, during processes, and until completion of the project.
The first step of the …show more content…
We need to develop an investment plan to track and control the budget for better results. This document will include justifications and approvals for necessary items and services. The investment plan will support the project with any acquisition. After it gets completed, the project manager will have sent the investment approval request to all the stakeholders.
Budget Measurements and estimates
This phase of the project is the most important because it has to be appropriately done with cost performances. The project manager has to work with performance data, like deliverables, and cost-schedule estimates. Developing the budget analysis, and performance reviews will help conduct the project in the right direction.
In this step we will compare the current cost performance against the planned amount of financial resources discussed in the project budget. In case of any deviations, it is necessary to make formal changes request to modify the budget with approvals.
After all the changes have been done, the project manager can proceed with the update of the budget plan sheet to make any deviations, or changes to the original break down structure of financial resources. In the update, we