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Project Budget Refinement

You've been given an overall budget for this project, but you need to refine it. Consider various ways to determine budgets for the individual tasks. What are the pro's and con's of each method? What is the role of the project manager in determining budgets for these tasks?

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Project Budget

You've been given an overall budget for this project, but you need to refine it. Consider various ways to determine budgets for the individual tasks. What are the pro's and con's of each method? What is the role of the project manager in determining budgets for these tasks?

Budgeting is one of the tools of the management control. Internal control programs are critical to any organization, because without it the results could be chaotic.
The advantages of budgeting are:
1. It helps in estimating and controlling the cost of the organization
2. It enables the participation of all levels of management.
3. It helps in implementation of strategy.
4. It ...

Solution Summary

The solution considered various ways to determine budgets for the individual tasks and the pros and cons of each methods.

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