Shared web hosting - Chapter 9: Building Your Project Budget 207 Tactfully
Chapter 9: Building Your Project Budget 207 Tactfully remind management or the customers why the project was initiated. This may help steer additional funds to your project. If the project was worth initiating, then it s likely worth continuing. Recognizing Budgetary Problems Before You Get to the Root Cause Analysis Stage It should never be a huge surprise to you, your bosses, the stakeholders, your clients, or even your project team that your project budget is suddenly gone. The words surprise and suddenly shouldn t even be used in the same sentence as the word budget. As the project moves through phases, milestones, and even deliverables, you should easily be able to track expenses against the amount of work you ve completed for the dollars spent. Figure 9-5 shows a cost baseline project that s in month four of eight months. The solid line represents the project s cost estimate while the dashed line represents the actual costs of the project to date. The difference between what was estimated and what is being experienced is the variance. If this project continues on the same path, the project costs will likely continue to mushroom and move farther and farther away from the original estimates. Figure 9-5: A variance is the difference between the estimate and the actual costs. Actual costs EstimateCosts Variance Schedule When costs exceed the estimates, you ll likely have to do a variance report for management so that you can explain why the actual costs aren t in line with
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