How would you approach a budget shortage in areas of personnel, infrastructure and inventory? How can those costs be best managed?© BrainMass Inc. brainmass.com June 4, 2020, 4:31 am ad1c9bdddf
In any budget shortage, there are really only a few different options. The first step that management should take is to analyze the entire budget and determine if the other areas are allocated properly. It is possible that other areas were over-allocated if three areas are under-allocated. Three areas is a considerable number to be under-estimated. If no areas were over-estimated (over-allocated), management needs to determine where ...
This solution discusses budgeting shortfalls (under-allocations) in the areas of personnel, infrastructure and inventory. Steps that management can take to cover the shortfalls and ways that costs can be reduced in these areas are also discussed.