determine budget in project management?
91380
Analygous estimating - ie using previous tasks of a similar nature to guide your estimate\nParametric estimating - where you estimate based on a rate eg. it take $100 to create one widget, so it will take $500 to produce 5 widgets\n\nThe project manager should be the one who faciliates the cost estimating at a task level and then consolidates the information to produce an overall project budget.  The project manager might also produce a top-down estimate based on actual project costs from previous projects.
222889
First of all the question is wrong, In Civil Engineering practice quantities are take off as per drawings and specifications for the preperaton of Bill of Quantities(BoQ), after the preperation of BoQ, individual items are priced according to relevent market price, that is called estimation, for the budgetary amount of the project. I hope that I explain the matter.
1090153
What goes in: Every invoice or receipt that is paid out. Labor, lumber, permit fees, pizza for the local kids who might help, etc.\n\nIf you're computer-savvy, Microsoft Excel is a simple but competent way to keep track of the expenses. If not, then feel free to do it the old-fashioned way by pen and ink.\n\nSimplest way to organize it would be a sequential listing by month. At the end of the month, tally the month's expenditures. If you want information by category, e.g., how much have we spent on lumber to date, then you could make the colums as categories. In that case, a computer program such as Excel would come very much in handy but it's not critical.\n\nBest of success.
1083204
- note down each & every piece of information about the project\n- classify this information into known categories like:\n   -- scope of the project\n   -- goals / milestones - major, minor, etc. to be achieved\n   -- required resources like manpower, tools, environment, etc.\n- evaluate the time & the cost required for the above resources\n- analyse the risks involved & classify them into Major, Minor, etc.\n- confirm whether have all the knowledge & capability to work on the project or \n- do you need to do more research on it as well\nhope this helps
516960
There really isn't anything new in cost control. The problem is still to charge commitments as soon as they are made and not when the bill comes in. Having an accurate budget to charge against and limiting who can charge against a project.
136941
Learn about project managment. It helps with all of the other parts of IT i.e. Business analysis, process mapping etc. It will also help you move in to management if you so wish. Wish I had learned about it sooner. Good luck.
338297
I believe this refers to setting a business' budget by functional area such as operations, engineering, human resources, finance, etc.  Each functional area or department would set its own spending limits (budget) for the coming year, month or other period.
417301
http://www.1728.com/projects.htm\n\ndepends on the penny but here is the answer you can calculate based on this information
729765
Depending on the size of the company, the Project Manager is usually multitasking by overseeing several projects at once:\na) Are they are schedule?\nb) Are they on budget?\nc) Personnel conflicts getting in the way?\nd) Do they need a material/information?\ne) Does marketing need a voice in the design/function?\nf) Will this impact others - competitors/neighbors/retailers in a way that needs thinking through.\ng) Are there licenses or other governmental inputs required.\nh) What/where will this be sited?\ni) Is there a completion date for public relations?\nj) What kind of reporting does my supervisor want/need? How soon/serious does a problem become before I report it?\nk) Am I using my assistant/assistance effectively?\nl) Am I leaving an adequate paper trail.\nShould start you off.
1135592
you need a cash flow forecast outlining all your expenditures putting them onto a spreadsheet. you will also need to know your budget to know what decisions are good or bad. this all depends on what the project is tho. you should seek advice from the business gateway they have been great with me when i was setting up business. they helped me with all my budgets x
689103
Oversees the spending/budgeting
298679
1. Establish criteria for evaluating and scoring both the cost and benefit of each project.\n2. Weight the criteria as appropriate.\n3. Score each project for cost and benefit.\n4. Plot scores on graph.\n5. Use graph to establish priorities.
351325
You need to make a companies capital budget? well you have to start with a sales projection and work backwards. After you estimate how much you will produce, you will need to figure out how much it will cost to produce it and of course, you want to have a profit left over. Any managerial accounting text book will have a chapter outlining this in detail, head to the library!
788214
Use the envelope system.  Make a realistic budget for each category and when you get paid put that much money into each envelope.  When the money in the envelope is gone you don't buy anything else in that category.
315028
NPV lets you know whether a project is feasible or not at a certain % of interest rate.\n\nSay your funds cost you x%, you can assess whether your project gives you enough returns to meet your financial costs based on the returns (cash inflows) you get at various points of time in the future.\n\nIf your NPV is zero, \n==> Your returns = Your financial costs.\n\nIf your NPV is positive, \n==> Your returns > Your financial costs.\n\nIf your NPV is negative, \n==> Your returns < Your financial costs.\n\nIRR gives you the exact rate of return that you earned based on the returns you get (cash inflows) at various points of time in the future.\n\n\nFor Finding NPV\n================\nCash inflows for all the periods are discounted with the appropriate discounting factors to obtain the discounted cash flows.. whose sum is the total discounted cash inflow..\n\nThis set off against the initial cash outlay would give you the NPV\n\nYou can find the factors from tables or calculate them on your own..\n\nThe logic behind a factor\nSay if the rate is 10% \n\nFirst Year\n------------\nA sum of $100 at the beginning of the first year i.e. zero period would become 110 at the end of the first year\n\nAn amount of 110 at the end is equal to 100 now \nAn amount of 1 at the end is equal to ??\n(1 * 100)/110 i.e. 100/110 = 0.9090\n\nSecond year\n-----------\nA sum of $100 at the beginning of the first year i.e. zero period would become 121 at the end of the second year\n\nAn amount of 121 at the end is equal to 100 now \nAn amount of 1 at the end is equal to ??\n(1 * 100)/121 i.e. 100/121 = 0.8264\n\n\n\nFive and half years\n-----------------\nA sum of $100 at the beginning of the first year i.e. zero period would become 169 at the end of the five and half  years\n\nAn amount of 169 at the end is equal to 100 now \nAn amount of 1 at the end is equal to ??\n(1 * 100)/121 i.e. 100/169 = 0.5917\n\nIf you have factor tables ready hand you can use that for the whole years and calculate the factor for 5 and half years.\n\n\nhttp://www.futureaccountant.com/
410767
This is a bit difficult question cause it takes lots of factors like how many resources you have (or going to allocate for the project). Do you have a clearly defined scope of work?? System Design??? if you have answers for these then lets break to project in to phases like  feasibility study, requirement gathering, analysis, design, coding and implementation. Each phase break it in to smaller tasks like getting approvals, visiting different locations etc. \n\nNow estimate number of days your resources going to spend on each task depending on the level of experiance the resources have. Here you need consider their previous experience and keep gaps for paper work and other manual processors.\n\nOnce you arrive on total number of days, then it is easy, you calculate what is your man day cost and add your profit margin. Then multiple Man Days * charge per day, that is the price estimation and number of days is the time estimation. Make sure you have buffers in case of something goes wrong in a phase. Size of the buffer needs to justify and realistic.
923838
Do a quick back-of-envelop calculation as follow\n\nMonthly expenditure (rent + car+ food + utilities + travel) * 12 * 25