Explore BrainMass

Explore BrainMass

    Project Management

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    What are some of the tactics a PM can use to control the estimate and budget preparation process?

    © BrainMass Inc. brainmass.com December 24, 2021, 5:00 pm ad1c9bdddf

    Solution Preview

    The question wants you to give some of the tactics a Project Manager can use to control the estimate and budget preparation. The estimation requires a process of forecasting and the budget preparation ultimately leads to the comparison between the estimated value and the actual cost incurred.
    <br>The question assumes that like a process of production, estimation and budget preparation can be 'controlled'. This is not always possible. What the forecasting process does is to attempt and estimate as close to the 'truth' as possible, based on the given information. So, to improve the quality of estimation, the PM may increase the quantity and ...