A project budget is one of the most important things when completing a project. . “Budget is a proxy for project planning” (Clark, 2013). Once the project budget has been laid out you should feel like you have completed a trial run through the project.
All parties involved strive to complete the project on schedule and within budget. The total budget for the Ipad admissions project is $5,380.00. This amount is $320.00 less than the total estimated cost that was calculated in the project charter, showing the project is currently within budget.
Because of the nature of this project there are not any fixed costs to consider. On the other hand, there are quite a bit of variable costs, mostly in hourly wages to the individuals required to complete the project. The most variable cost was found to be for the completion of interactive tours. Because of the duration of this task and the man hours needed it makes sense that this would be the most costly part of this project. The software application will make up $800.00 in hourly wages, while the testimonials among all the groups will have a huge impact on the budget. Due to the multiple parties working simultaneously on these tasks it has resulted in high hourly wages being expensed which contributes to the total budget costs.
To continue this project within budget we need to ensure the current budget allocations for activities such as training, testimonials, and interactive tours is kept. We need to ensure that personnel and technology implications are planned so that no extra costs will arise.
To ensure the project is achieving its objectives three areas will need to be addressed throughout the duration of the Ipad project. These will help contribute to the project staying below budget and ahead of schedule if possible. 1. Communication needs to be effective and...