Budgeting Flashcards
1
Q
Estimation Techniques (2)
A
- Bottom-up. The team hammers out costs, item by item
* Top-down: Senior managers Estimate costs and allocate that amount to the project
2
Q
Gathering Information: Who controls the budget?
A
•Get Project sponsor to sign off on final budget and any budget changes thereafter
3
Q
Estimate Activity Costs Matrix. Name the basic columns and totals (may have more or less columns)
A
- Activity
- Labor
- Overhead
- Materials
- Rental Fees
- Activity Total
- Other costs
- Team Rewards and Recognition
- Grand Total
4
Q
Creating a Resources List. What Columns? (may have more or less columns)
A
- Resource
- Description
- Cost
- Availability
