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Effectively Managing Budgets

In order to organize and plan a project effectively, project managers use a work breakdown structure (WBS). It also helps control project costs and ensures accurate monitoring. How do you see the WBS and budgeting/monitoring complimenting each other?

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The work breakdown structure is designed to ensure the efficiency of a project and to also ensure that a particular pool of workers isn't overworked. When budgeting, it is ...

Solution Summary

This excerpt explains the purpose and importance of the work breakdown structure (WBS) and how it helps project managers effectively manage projects.