Purchase Solution

optimizing resources, project budget

Not what you're looking for?

Ask Custom Question

Please answer the following. Limit answers to no more than 75 words.

What does optimizing resources mean in the context of project management, particularly if I have to share resources with others?

How important is the development of a realistic project budget, and what is the function of the contingency factor in developing a budget?

Purchase this Solution
Solution Summary

What does optimizing resources mean in the context of project management, particularly if I have to share resources with others?

Solution Preview

What does optimizing resources mean in the context of project management, particularly if I have to share resources with others?

In the context of project management, optimizing resources means taking best possible and most efficient use of available resources such as time, human and financial resources. Since resources are limited and best possible use need to be made of the available resources, proper planning should be done in advance to take the best possible and optimized use of such limited resources at disposal, thereby reducing the ...

Solution provided by:
Sandeep Bardia, MBA
Education
  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
Recent Feedback
  • "Thank you. "
  • "Thank you"
  • "Thank you. I got 20/20 last week for my discussion you help me out with."
  • "Thank you. Great Job. "
  • "Thank you. Great Job. "
Purchase this Solution
Free BrainMass Quizzes
Marketing Management Philosophies Quiz

A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.

Operations Management

This quiz tests a student's knowledge about Operations Management

Basic Social Media Concepts

The quiz will test your knowledge on basic social media concepts.

Organizational Leadership Quiz

This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.

Cost Concepts: Analyzing Costs in Managerial Accounting

This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.

View More Free Quizzes
Related BrainMass Solutions

  • Why the project should be effective and efficient?

    Once a project has been properly defined, efficient execution becomes the next opportunity for optimizing profitability.

  • Optimizing Project Budget

    542799 Optimizing Project Budget What does it mean to crash a project? What are some ways to save money? Is it possible to shorten the critical path and save money? Explain how. Schedule compression includes both crashing and fast-tracking.

  • Solution plan for construction issue

    Support your paper with minimum of three (3) resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.

  • Project Management: Discipline or Methodology

    Project management involves optimizing the use of scanty resources as well as handling the various forms of risks to meet stakeholder expectations (Earthweb.com, 2003).

  • Public Budgeting and Legislative Hearings

    More combinations of budget solutions are raising taxes for the top 5% earners, reshaping spending priorities, and optimizing state government collections.

  • "assessment model" for a company

    To accomplish this goal, facilities management personnel should perform the following functions for the project team in order to ensure the desired quality of the constructed project: • Establish requirements • Build teamwork • Supply resources

  • Estimating Resources for Projects

    153125 Estimating Resources for Projects Managing a project and I have an $850,000 budget. For the project,the resources include four developers and on project manager.

  • The Evolution of Project Management at Quixtar

    Interviewing key project resources, such as project managers. 2.) Review documentation such as project deliverables and process documents. 3.)

  • Operationalize project cost

    The best and successful way to determine a project budget is to start with the identification of all the project activities and the resources required/necessary to carry out each activitiy.After determining the necessary the activities and necessary resources

View More Related Solutions