Assignment 7: Part 2 The most significant component of the project budget, as we have observed, is derived from the assigned resources. However, resources are not the only source of project costs. Costs may be direct, indirect, fixed, and variable.
Using resources in this module as well as the Internet, describe the process of creating a project budget. Identify all costs—especially costs beyond assigned resources—that should and should not be included in the project. The paper should include: 3 pages of content Describe the project budget process Identify what should and should not be included in the overall project budget.
Provide your rationale for costs you choose to include in the project. Minimum of five references APA formatting references and reading Text Project Management Institute. (2007).
A guide to the project management body of knowledge (PMBOK® Guide). Newtown Square, Pa: Project Management Institute. Section 7.3,7.4 Kerzner, H. (2017). Project management: a systems approach to planning, scheduling, and controlling. Hoboken, NJ: Wiley. 529-537 Articles Over the top (2013). PM Network, 27(10), 22. Vargas, R. V. (2015). Applying neural networks and analogous estimating to determine the project budget. Paper presented at PMI® Global Congress 2015—North America, Orlando, FL. Newtown Square, PA: Project Management Institute. Lazar, O. (2015). Stop reacting, it’s too late! Start to anticipate!: use a proper budget structure as an early warning system integrating cost, scope and risks. Paper presented at PMI® Global Congress 2015 —EMEA, London, England. Newtown Square, PA: Project Management Institute. Stroke of Strategy: Success Extends beyond Scope, Schedule and Budget (2016). PM Network, 30(11), 20–21. Brannan, L. (2006). Project budgeting using the project management knowledge areas. Paper presented at PMI® Global Congress 2006—Latin America, Santiago, Chile. Newtown Square, PA: Project Management Institute. Video Project cost management: https://youtu.be/nM02lDQXQ08 Project budget: https://youtu.be/oXhgwn-girI Websites http://www.brighthubpm.com/templates-forms/61658-examples-of-a-project-management-budget/ https://www.projectinsight.net/project-management-basics/basic-project-budget http://www.mymanagementguide.com/guidelines/project-management/cost-management/determining-project-budget/ https://www.projectsmart.co.uk/creating-a-project-budget-what-you-need-to-know.php http://www.ehow.com/info_7759972_project-budget.html