Determine the tools that would work best for developing a schedule and budget. Simple methods for monitoring and controlling the schedule and budget.
Identify and discuss findings from at least 4 separate articles concerning tools that are going to be used in developing a schedule and budget.
Identify and discuss findings from at least 2 separate articles concerning tools that are going to be used for the monitoring and controlling of the schedule and budget. Explain reasoning.
The costs of the project are estimated to be $55,000.
The time for the project is estimated to be eight weeks.© BrainMass Inc. brainmass.com October 25, 2018, 9:41 am ad1c9bdddf
The tool that will be best for developing schedule and budget:
The tool that will be best for developing schedule and budget should be one that has the ability to track time and expense. At the same time the tool must have the ability to prepare a detailed budget for the firm. The tool selected is Mavenlink. This is a cloud based collaboration and project management application. This tool is also described as professional automation software. This software is developed in the United States (1). Mavenlink enables professional service providers to efficiently manage the project from start to finish. Mavenlink is an end to end project management tool.
Apart from its ability to help develop a schedule, a budget, and monitor the project, it provides several features that will help the organization in which the problem resides in successfully completing the project (2). The tool allows milestone tracking, time tracking, resource planning, task management, expense tracking, and document management. Mavenlink integrates with a wide variety of Google Apps, PayPal, Quickbooks, and Microsoft Office.
Scheduling is important in the project so that the project can be completed in a timely manner. Since, timely completion of the project is very important, Mavenlink provides a world class timeline management feature. It has GANTT timeline management feature. The feature has task dependencies. The manager can actually see the progress of the project visually (3). For example, if the communication with the employees is delayed the project manager can actually see the delay visually ...
The answer to this problem explains tools for developing scheduling and budgeting. The references related to the answer are also included.
Master Budget with Supporting Schedules 2 schedules incomplete
The cash budget is composed of four major sections:
1. The receipts section.
2. The disbursements section
3. The cash excess or deficiency section.
4. The financing section.
The receipts section lists all of the cash inflows, except from financing, expected during the budget period. Generally, the major source of receipts is from sales.
The disbursements section summarizes all cash payments that are planned for the budget period. These payments include raw materials purchases, direct labor payments, manufacturing overhead costs, and so on, as contained in their respective budgets. In addition, other cash disbursements such as equipment purchases and dividends are listed.
My cash excess section was computed as follows:
If a cash deficiency exists during any budget period, the company will need to borrow funds. If there is a cash excess during any budget period, funds borrowed in previous periods can be repaid or the excess funds can be invested.
The financing section details the borrowings and repayments projected to take place during the budget period. It also lists interest payments that will be due on money borrowed.
The cash balances at both the beginning and end of the year may be adequate even though a serious cash deficit occurs at some point during the year. Consequently, the cash budget should be broken down into time periods that are short enough to capture major fluctuations in cash balances.View Full Posting Details