The Importance Of Properly Establishing A Project Budget

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Question1

You have now completed the charter for your office relocation project. The project sponsor wants to expand the scope of the project, but you are hesitant to do so per the constraints in place. One reason the sponsor is looking to expand the scope is because of a financial incentive for him. Discuss why increasing the scope of this project is not a good idea (scope creep). If you must increase the scope, what additional considerations (for example, costs or timeline) must be given to accomplish this scope change? What procedures and forms must be used to do it properly?

Question 2

It is time to estimate your project’s budget. Your project sponsor has set a limit on the amount of money you can spend. You know your budget will exceed that limit.Describe the importance of properly establishing a project budget. What is the best method or methods to accurately estimate the budget for a unique project? What controls can you implement to keep your budget in check?

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