The Project Management Institute estimates that 20 percent of worldwide GDP is spent on projects (per www.pmiteach.org). That puts project-related spending at over $12 trillion per year. Besides private sector project spending, which we will cover later, many people sell to governments according to a government contract. That work, even if it would not be considered project work for business-to-business transactions, is often considered project work if the purchaser is a government. All projects need to track the time spent on labor and material expenses. These need to be tracked versus milestones, and from the inception ...