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Budgeting Material and Labor Resources

What are the differences between budgeting material and labor resources? Why is the baseline important to the budget process? How does work package development assist in the overall project budget development? As a project manager, which budgeting method (top down/bottom up) would you utilize? Why?

Solution Summary

This solution discusses the differences between budgeting material and labor resources, as well as why the baseline is important to the budget process, It also discusses how work package development assists in the overall project budget development. As a project manager, it also discusses which budgeting method (top down/bottom up) would be utilized, and why.

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