Identify and describe a project where the top-down budgeting approach would be most appropriate. Detail your rationale for the decision and list the advantages for using that approach. Next, identify and describe a project where the bottom-up budgeting approach would be most appropriate. Provide your rationale for deciding on the use of that approach and list the advantages of using it.
Managing project budgets TOP DOWN
Top down would be all direction coming from the Project Manager. All objectives, guidelines, information, plans and funding would be determined by the Project Manager. This would include all budgeting. The expectations would be communicated to the project team.
An example of a Top Down budgeting Approach
In a company where I worked: Linamar Corporation, the owner Frank Hasenfratz started the company and was very skilled at the operations. When you would take on a project, he would control all budgets and be able to identify any ...
This solution looks at top-down budgeting and the advantages of this approach. Examples are given of bottom-up budgeting and appropriateness of the approach. Advantages are listed.