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Managing a Budget/Prioritizing for Risk/Project Management

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A) Do you think it's extremely important to manage a budget whether you have a strategic plan to follow or not? Explain.

B) Do you agree that Production or admin and service costs along with management costs are all things that the project manager has to understand? Explain.

C) DO you agree that prioritizing is a contributing factor for a successful risk management plan?

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Solution Summary

This solution answers the following questions:
A) Do you think it's extremely important to manage a budget whether you have a strategic plan to follow or not? Explain.

B) Do you agree that Production or admin and service costs along with management costs are all things that the project manager has to understand? Explain.

C) DO you agree that prioritizing is a contributing factor for a successful risk management plan?

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A) Do you think it's extremely important to manage a budget whether you have a strategic plan to follow or not. Explain.

You certainly must manage a budget, but it is difficult to know how to manage it if you do not have a plan for what you intend to do. A budget helps an organization know how much money they have, and what they need to spend and plan for. Operating without a strategic plan allows the company to make decisions that ...

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Sally Baldwin, Ed.D
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  • MSS, United States Sports Academy
  • Ed.D, Boise State University
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