Project Management for Information Professionals

Chapter 5

Budgeting and Performance

Abstract

When commencing a project, it is difficult to know how much it will cost. Project managers are held accountable for their budget estimates, and with so much uncertainty in projects this can be one of their greatest challenges. This chapter provides an overview of creating a budget for a project, using estimation methods to determine costs, and maintaining costs. It also examines what factors cause changes in projects and how changes should be approved. Issues involving quality, performance, and control are discussed.

Keywords

Budgeting; Control; Estimation; Performance; Quality

There is measure in all things.

Horace

One machine can do the work of fifty ordinary men. No machine can do the work of one extraordinary ...