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Managing Project Budgets

Managing Project Budgets

Elizabeth Harrin

(2013)

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Book Details

Abstract

More than one-third of projects have a budget of seven figures or more, so handling the finances is an essential part of a project manager’s repertoire. Keeping to budget is not always easy, and it is made harder by the fact that project managers themselves don’t always get control over the money. As the 'average' project has its budget revised at least three times, the situation can be further complicated. This is one section of the book "Shortcuts to Success".
Elizabeth Harrin MA MBCS FAPM is a project and programme manager with a decade of experience managing IT and business change projects. She is the author of Social Media for Project Managers (PMI, 2010) and writes the award-winning blog A Girl’s Guide to Project Management. Elizabeth is a PRINCE2, MSP and P3O Practitioner and a member of PMI.
Lives up to the 'real world' promise in its title, providing concise, practical advice for leaders of large projects, small projects, and everything between. The interwoven examples from actual projects illustrate clearly why the guidance provided here matters.
Tom Kendrick, MBA, PMP
More than one-third of projects have a budget of seven figures or more, so knowing how to handle the finances is an essential part of a project manager’s repertoire. An incredible 56 per cent of projects are affected by budget changes and the 'average' project has its budget revised at least three times. Keeping on top of finances is not always easy, and it is made harder by the fact that project managers themselves don’t always get control over the money. This ebook covers how to manage project variables where the budget authority is held elsewhere, how to find out who has that authority, and how to manage the relationship with the budget holder. This is one section of the book "Shortcuts to Success".
Elizabeth Harrin has done it again! This new edition of her book 'Project management in the real world' is packed with hard-won insights on how to make projects work in today's pressurised business environment. It shares the stories of people grappling with projects all over the world. I reckon that these lessons learned are worth their weight in gold to anyone with a challenging project to accomplish. Apply what it suggests and you're likely to save your company a fortune and yourself heaps of frustration!
Dr Penny Pullan

Table of Contents

Section Title Page Action Price
Copyright i
CONTENTS iii
LIST OF FIGURES iv
AUTHOR v
FOREWORD vi
GLOSSARY viii
PREFACE xi
1 CREATE A REALISTIC BUDGET 1
2 CALCULATE THE TRUE COST 5
3 TRACK ESTIMATE TO COMPLETE 9
4 AGREE A BUDGET TOLERANCE 12
5 HAVE A CONTINGENCY FUND 16
6 GAIN BUY-IN FOR COLLECTIVE BUDGET RESPONSIBILITY 19
7 AGREE WHO HOLDS SIGNING AUTHORITY 24
8 ARRANGE FOR A PEER REVIEW 26
9 MANAGE PROJECTS WITH NO BUDGET CAREFULLY 30
10 USE TIMESHEETS FOR TRACKING TIME 33
11 BUDGET FOR CHANGE MANAGEMENT 36
12 UNDERSTAND THE BENEFITS 38
FURTHER READING FOR THIS SECTION 40
APPENDIX 1 RISK LOG 41
APPENDIX 2 ISSUE LOG 43
APPENDIX 3 CHANGE LOG 45