Managing Project Budgets

9 MANAGE PROJECTS WITH NO BUDGET CAREFULLY

While most of the projects that we read about in the press have huge budgets, there are a lot of projects at the other end of the scale. The majority of small projects, especially those without IT involvement, are run without a specific budget, around the edges of a manager’s day job. Any costs have to come out of the business-as-usual provision which means there is no allocated project budget. They may not have a specific project manager managing them. Another scenario is when a project manager is assigned to the work, but the budget is still held by the business department and is not given to the project manager to handle – most likely because there is no set amount to spend and again it has to come ...