Join Bob McGannon for an in-depth discussion in this video Next steps, part of Project Management Foundations: Budgets (2014).
…If you're looking for even more information on managing budgets, the…next major step you can take is to explore Earned Value Management.…With the earned value approach, a dollar value is assigned to…all tasks and your project status is reflected in financial terms.…Both from a budget and a schedule standpoint.…The United States Department of Defense has…published a comprehensive guide on Earned Value Management.…It is entitled the DOD Earned Value Management Implementation Guide.…
I encourage you to check that out, if you want…to consider a highly controlled way to manage your project budget.…The Project Management Institute also has…a practice standard for Earned Value Management.…Along with the practice standard on project estimation.…These standards are applicable across industries.…And will expand upon some of the concepts I've introduced in this course.…I hope this course has given you an…appreciation for the importance of project budget management.…And how it is intertwined with other standard project management processes.…
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- Define project budget.
- List steps for crafting a budget.
- Explain costing standards.
- Examine capital and operating costs.
- Identify different types of estimating.
- Determine the correct level of budget detail.
- Collect resource-usage information.