Explain about the budgeting process in risk management, Project Management

Assignment Help:

Explain about the budgeting process in risk management.

The budgeting process:

A budget is a quantified or forecast plan of action. A quantified financial plan of action that itemises a projects income and expenditure assigned for example a list of all planned expenses and income. Budgetary planning makes a budget like part of the planning process for the project. It control compares the budgeted outcomes as a ‘yardstick’ or target, within comparison to real results, so as to quantify any variances or deviations through the project plan. Such process at regular intervals during a project can be used to get control action and bring real results in line along with the plans.


Related Discussions:- Explain about the budgeting process in risk management

Describe the organisational culture, 1. Briefly trace the development and g...

1. Briefly trace the development and growth of Walmart from 1969 to the present through the application of corporate strategies - what types of strategies have these been? 2. Th

Main items present in the risk log or risk register, QUESTION (a) Risk ...

QUESTION (a) Risk has always been an intrinsic part of project management. With increasing market dynamic conditions, Safety and Health in workplaces, changing technology and g

Discuss ways to review a project, Question: (a) A famous man once said:...

Question: (a) A famous man once said: "If you do not know where you are going, how will you know how you will reach your destination". This sentence captures the importance of

Contract management, Contract Management  There are many things involve...

Contract Management  There are many things involved in a project risk policy. One of them is contract management. Various kinds of contract can have an impact on the success of

What are the disadvantages of critical path analysis, What are the disadvan...

What are the disadvantages of critical path analysis? Disadvantages of critical path analysis (CPA): a. Supposes a trade off among time and money but most staff cost coul

Role of ideological models in capitalist societies, Assignment must address...

Assignment must address PDF attachment showing interaction between business, society and government sectors and must reflect on Module 2 and Module 3 content which includes: Mod

Why do projects need planning, Q. Why do projects need planning? A basi...

Q. Why do projects need planning? A basic of managing projects is first to plan and then to accomplish. Obviously good project management is lots more complex as we shall see s

Scope of process design, Scope of Process Design  Design of manufactur...

Scope of Process Design  Design of manufacturing process starts with the receipt of product specifications and ends with the final plan for the manufacture of the product. The

Concepts of market size, When JF persuaded a leading retail supermarket cha...

When JF persuaded a leading retail supermarket chain to trial her 'home-made' chocolate dessert range she could not have anticipated how well it would sell. Now a year on she has f

Different strategies that lg use to manage the conflict, LG, the Managing D...

LG, the Managing Director of NWP Company, recently announced to the workforce that the Board had agreed to the establishment of a set of new working practices which should lead to

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd