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Effectively Managing Budgets

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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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Solution Summary

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

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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 provided by:
Tamara Daniels, MS
Education
  • Master Online Teacher Certificate, University of Illinois
  • MS, National Louis University
  • MA, National Louis University
  • BA, University of Illinois
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