Wednesday, January 14, 2009

Project managers and tightening budgets

Projects@Work looks at how you as a project manager can start finding ways to monitor your current spending for your projects. First, you should be able to define these three key numbers: budget to date, actual to date, and estimate to complete. You should also be tracking your spending. If you're not, take a trip to the finance department and set up a quick spreadsheet so you can begin.

Other ways to begin stretching your budget:
Review estimates, Get number savvy, Share costs with other projects, Cut back on travel, Review who does what, Manage risk better, Negotiate a contingency fund, Share the numbers, and Do less. For more information, read the article at Projects @ Work.

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