The funding may occur in incremental amounts in project management. The cost baseline is an important element in determining the project funding requirement and it includes the projected expenditures as well as the anticipated liabilities that may arise in the middle of the project. Both of these funding requirements are derived from the cost baseline. The period funding requirement is defined as the annual and quarterly payments. It also includes the management reserves. The total funding requirement is defined as the cost that is identified in the cost baseline. There are two types of funding management requirement and these include the total funding requirement and the period requirement. Hope this article can illustrate the differences between Cost Baseline vs Budget well.In project management, the project managers need to know exactly what their funding requirements are, even before they commence with the project.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |