Consulting Experts and Obtaining Estimates
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This excerpt gives an overview of what hidden costs are and how they can affect a project's budget. It also provides a brief, but concise summary of what overhead costs are in comparison to indirect costs.
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Solution Summary
This excerpt explains the importance of consulting experts and obtaining estimates before even beginning to work on a project.
This entry answers the following questions: What are hidden costs and what is their relevance to a project's budget? Why are overhead costs in relation to a project important to the project manager? How should overhead be estimated on a new project?
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What are hidden costs and what is their relevance to a project's budget? Define overhead costs in relation to a project, and explain why it is important to the project manager. How should overhead be estimated on a new project?
Overhead costs, sometimes termed nondirect expenses, can be likened to miscellaneous expenses, which are common to most projects and are computed as a ...
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