PJM 510 – Aggregating all the estimated costs

PJM 510 – Aggregating all the estimated costs

Subject: Business    / Management
Question
Aggregating all the estimated costs for the specific activities that make-up a project to determine its total budgeted cost (TBC) and then monitoring a project’s progress to ensure that the work involved is kept within budget are two activities that are critical for success.
Discuss the processes involved in determining and managing project budgets while explaining what points and pitfalls project managers should keep in mind when performing these functions.