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How important is it to be accurate with respect to the estimated budget and actual budget of a project? What practices have you used or seen used to help ensure that the estimated budget is as close to reality as possible?

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Accuracy in estimating a budget of a certain project is very important in ensuring that the project will push through. One of the main considerations before sending a "go" signal to run the project is the plan of activities, timeline, tools, personnel and cost needed. A proper and accurate estimation of the budget must be done and the estimated budget should be very close to the actual budget as possible to ensure that the project is on the right track. That estimation will be the baseline ...

Solution Summary

This posting contains answers to the given budget questions.