CMGT Project Budget Paper
Budget Project
CMGT 410 Project Planning & Implementation
December 18, 2014
Carlos Perales, MSCIS
Memo
To: Corporate Office
From: Luis Pinon
CC: Anyone that you believe should be copied
Date: 1/8/15
Re: Subject
Description of Project
The project for the company offsite 2 day training session has given a preliminary go-ahead. The budget of the project will determine any important factors that will impact the training project.
The company of AER has given the opportunity for all workers to get the training required. The budget of the 2-day training session project will recover any expenses that occur before the initiation, during processes, and until completion of the project.
Resources
The first step of the project is to develop a budget. The budget management process involves the project manager in developing all the cost, estimates, and the total amount of money resources necessary for the implementation of all the activities. All the tasks and events are defined and stated in the WBS and Schedule in the lower section of the memorandum.
Budget Development
Budget development should cover the capital, and the operating expenses to ensure the success of the project completion. The project manager needs to gather all the funding requirements and then send a formal request to the sponsor. The sponsor needs to look first in the feasibility study, business case, and project charter before making any final decision. For developing a budget project sheet, there are a few estimation methods, like the cost baseline measurement, and the cost aggregation.
The budget development is the initiation of the project that will measure all the tasks with cost and time. The process will be evaluated with decisions of the participants. The milestones reflected in the document will be also revised by the specialist of the cause and utilized for further interruptions.
Budget Use
The next step of the budget is to allocate the financial resources and start running the plan of the
CMGT 410 Project Planning & Implementation
December 18, 2014
Carlos Perales, MSCIS
Memo
To: Corporate Office
From: Luis Pinon
CC: Anyone that you believe should be copied
Date: 1/8/15
Re: Subject
Description of Project
The project for the company offsite 2 day training session has given a preliminary go-ahead. The budget of the project will determine any important factors that will impact the training project.
The company of AER has given the opportunity for all workers to get the training required. The budget of the 2-day training session project will recover any expenses that occur before the initiation, during processes, and until completion of the project.
Resources
The first step of the project is to develop a budget. The budget management process involves the project manager in developing all the cost, estimates, and the total amount of money resources necessary for the implementation of all the activities. All the tasks and events are defined and stated in the WBS and Schedule in the lower section of the memorandum.
Budget Development
Budget development should cover the capital, and the operating expenses to ensure the success of the project completion. The project manager needs to gather all the funding requirements and then send a formal request to the sponsor. The sponsor needs to look first in the feasibility study, business case, and project charter before making any final decision. For developing a budget project sheet, there are a few estimation methods, like the cost baseline measurement, and the cost aggregation.
The budget development is the initiation of the project that will measure all the tasks with cost and time. The process will be evaluated with decisions of the participants. The milestones reflected in the document will be also revised by the specialist of the cause and utilized for further interruptions.
Budget Use
The next step of the budget is to allocate the financial resources and start running the plan of the
References: My management guide. (2010-2014). Retrieved from http://www.mymanagementguide.com/project-budget-and-financial-resources/ Project Management Docs. (2014). Retrieved from http://www.projectmanagementdocs.com/project-planning-templates/work-breakdown-structure-wbs.html