Planning in 140 Tweets

CHAPTER 8

MANAGING COSTS AND BUDGETS

We can never be paranoid over costs. Before that, we may have to discuss the concept of value, which is related to the benefits that we wish to accomplish. Many times the challenge lies in transforming value into a a monetary currency, especially when the benefits are not clearly tangible. In this case, an additional effort is needed to question and try to clearly understand the value that each proposed benefit will bring to the project.

Just like time management, discussed in the previous chapter, cost is central to any project control. Everybody wants to make sure that the available budget is enough to deliver the expected benefits. It is important to note that cost is directly related to the work to ...