Why do project teams create time-phased budgets

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Reference no: EM131841137

Question: 1. Why do project teams create time-phased budgets? What are their principal strengths?

2. Project contingency can be applied to projects for a variety of reasons. List three of the key reasons why a project organization should consider the application of budget contingency.

3. Calculate the fully loaded cost of labor for a project team member using the following data:

Hourly rate: $35/hr

Hours needed: 150

Overhead rate: 50%

Reference no: EM131841137

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