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Top-down budgeting works the opposite direction of bottom-up budgeting. Top-down budgeting begins by estimating the costs of higher level tasks, and then those estimates will constrain the estimates for costs of lower level tasks. So the entire process of coming up with a budget will begin with upper-level management and an overall estimate of the entire project. Then the overall budget is divided among the first level of tasks, and then the budget is divided among lower level tasks and then lower level tasks. This continues until funding has been given to all of the tasks necessary for a project.
What else can I help you with?
Advantages of bottom-up budgeting as applied to project management?
Bottom-up budgeting as applied to project management has advantages. It ensures the resources are getting to the people actually doing the work of the project.
Importance cost management in a project?
Cost Management is critical to Project Management. A project cannot be initiated with Cost Management not in place, since cost management is about estimating, budgeting, monitoring, and analyzing the cost information.
What are the advantages of project risk management?
reduce risk of accidents
Explain use and advantages of squared networks in project management?
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How IT project management is different from project management?
I do not see it as being different. Project management methodology and sound practices can be applied to all projects. That doesn't mean the projects work breakdown won't look different for a construction project versus an software project. But he 'management' of the project should follow the same or similar methodology.
Advantages of bottom-up budgeting as applied to project management?
Bottom-up budgeting as applied to project management has advantages. It ensures the resources are getting to the people actually doing the work of the project.
Importance cost management in a project?
Cost Management is critical to Project Management. A project cannot be initiated with Cost Management not in place, since cost management is about estimating, budgeting, monitoring, and analyzing the cost information.
advantages of hostel management system?
full project of hostel management system
What are the advantages of project risk management?
reduce risk of accidents
What includes tasks such as planning budgeting organization staffing controlling and leading which are required to accomplish a specified project?
Management
Explain use and advantages of squared networks in project management?
s
Various objectives of capital budgeting in project planning?
Objectives of capital budgeting project report
What are the advantages of the architect over the project manager in project management?
This question requires an elaborate answer, here's an excellent article on the differences (and the advantages) between the project architect and the project manager: http://www.pmhut.com/project-architect-vs-project-manager
How IT project management is different from project management?
I do not see it as being different. Project management methodology and sound practices can be applied to all projects. That doesn't mean the projects work breakdown won't look different for a construction project versus an software project. But he 'management' of the project should follow the same or similar methodology.
What major should you get if you want to be a wedding planner?
Given that a wedding planner should have budgeting skills, project management skills, etc., I suggest a business management degree.
Does project management hampers work life balance?
No it doesn't. In fact, Project Management can improve every aspect of the business as well as the person's life and the others when applied properly.
What is the advantage of project management web software?
There are a number of advantages of project management web software. Some of the advantages include the ability to collaborate with team members in real time, the ability to share documents and the ability to manage risks, forecasting and budgets.
