Examples of Strong or Weak Internal ControlsMay 1, 2021final draft 12May 1, 2021
The ability to plan an effective budget is critical to the understanding of planned and actual costs in a project. The only way to understand both schedule performance and the accuracy of the budget is to create a baseline. Use your text reading and the ProQuest article by Marcia Jedd to describe the linkage of a time phased approach to budgeting and the importance of a baseline for the project. How does this baseline enable measurement of project health?
Read the following chapters in Cost and Value Management in Projects:
Chapter 3: Cost Estimation
Chapter 4: Project Budgeting
Read the following journal article from ProQuest:
Jedd, M. (2006, January). Project rescue. PM Network, 20(1), 64-68. Retrieved from ProQuest Database. The article provides a review of project budgeting, scope management, and helpful details on cost and schedule performance to aid in the discussion boards for the week.
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