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IT Project Management, 2nd Edition by Joseph Phillips

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4.3. Implementing Bottom-Up Cost Estimates

IT project managers love estimates; accountants don't. One of the toughest parts of your job as an IT project manager is to accurately predict the expenses your project will generate. As an IT professional, you know this is true because there is so much to IT that fluctuates: RAM, new versions of software, the size of hard drives, the speed of processors, and just about any other facet of the IT world. Intel's Gordon Moore is known for "Moore's Law," where he predicts processing power doubles every 18 months. This law, which is generally accepted as true, has spread to all areas of technology. Everything becomes more efficient with technological advances.

The old adage that time is money is never more ...

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