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Why manager reluctant to participate in budgeting?
Some managers are reluctant to participate in budgeting because they do not like to discuss financial matters. They may also feel like developing a budget stops flexibility in an organization. Some want to control all the money without any restraints.
Are project managers responsible for budget requirements?
Yes & No. The Project Manager is responsible for running the project within budget but the overall project budget is allocated by the Senior Management or in some cases the Customer. The project manager works on the budget given to him and then manages the project in a way that he is within budget
What is a percentage fee for a project manager from the overall project budget?
Project managers are not usually hired on a %fee basis but on a contract.
What is the importance of leading to management?
Management is about getting from where you are to where you want to go. Leadership is about setting a vision for where you want to go and communicating that to the managers who will get you there.
Major skills and functions of managers?
* For an organizations, managers are important, they fulfill many roles and they have different responsibilities. * Manager task of making decision, solving difficult problems, setting goals, planning, strategies and rallying individuals.
Why manager reluctant to participate in budgeting?
Some managers are reluctant to participate in budgeting because they do not like to discuss financial matters. They may also feel like developing a budget stops flexibility in an organization. Some want to control all the money without any restraints.
How are senior managers personally involved in HSE managemen?
Senior managers overseeing the whole project, approving budget for HSE aspects.
When setting up a budget what do you need to keep in mind?
what do you need to keep in mind when setting up a budget
How is budget committee and budget manual related?
Budget committee comprise top managers who draft budget manual and budger calendar, and also review and approve budget for operational departments.
Advantage of rolling budget?
A rolling budget helps mask overspending. With a rolling budget, managers and employees can correct spending problems on a daily basis.
Disadvantages of participation in the budget setting process?
participative budget is also called bottom-up budget. So, u just find the disadvantages of bottom-up budget. 1. slow 2.budget snack 3. Not setting budget in line with the aim of the firm
What should you do if your initial budget doesn't balance?
you restart setting up another budget
How does management use an operating budget How do they use an activity based budget What are the similarities and differences between these types of budgets?
The key to a successful financial reporting system is an operating budget in order to compare your actual operating results. Managers use the operating budget for planning in setting goals and developing strategies to achieve those goals. Budget will demonstrate how resources will be developed to implement strategy. Managers use the operating budget for strategy, long-run planning strategic plans, long-run budgets, short-turn planning operating plans, and short-run budgets. The operating budget will aid management for a specific period and [b] an aid to coordinating that needs to be done to implement that plan.
How much does a restaurant general managers?
Restaurant general managers' duties are payroll, accounting, and maintain the restaurant budget. Restaurant general managers average a salary of $49,000 per year.
What is advantages of fixed budgets?
A fixed budget will help businesses manage finances. With a fixed budget managers will not have the ability to spend extra funds.
What are the limitations of budget for managers?
- De-motivation of employees - No matter how prepared the budget is, it will never be able to reflect truly, reality, complexities faced by the company.
Why are airlines reluctant to offer round trip airfares during holidays such as Christmas Eastern and thanksgiving?
Budget cuts as it is the recession
