3 TRACK ESTIMATE TO COMPLETE
It is easy to track how much of your precious project budget you have already spent (assuming you keep copies of invoices and timesheets). It is also easy to assume that you will simply use up the rest of the available money evenly between now and the end of the scheduled work. However, this approach gives you a false impression of how you will spend the rest of your budget.
To give you an example, you could be 50 per cent of the way through the project and have spent 50 per cent of the budget. However, if a big purchase has not yet happened, such as buying and installing servers for a production software environment, having only half the budget left could be a sign of a trend towards overspending. Project costs ...
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