When commencing a project, it is difficult to know how much it will cost. Project managers are held accountable for their budget estimates, and with so much uncertainty in projects this can be one of their greatest challenges. This chapter provides an overview of creating a budget for a project, using estimation methods to determine costs, and maintaining costs. It also examines what factors cause changes in projects and how changes should be approved. Issues involving quality, performance, and control are discussed.
There is measure in all things.
One machine can do the work of fifty ordinary men. No machine can do the work of one extraordinary ...