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- W4234466151 abstract "Budgets are important management tools for the project selection, planning, and control. This chapter emphasizes the importance of resource estimating and budgeting for a project using Google as an example. Cost estimates are key components to the project budgeting process. Cost estimating methods are categorized into five classes, ranging from very low accuracy (class-5) to very high accuracy (class-1). The seven popular cost estimating methods are expert judgment, rule of thumb, past performance, three-point, parametric, roll-up, and deterministic. Regardless of the project size and level of detail desired, the budgeting process goes through four steps: (1) project definition, (2) estimating method selection, (3) cost estimation, and (4) budgeting. Cost estimating is teamwork, led by a senior manager or skilled cost accounting professional, supported by task specialists and cost accounting analysts. It is very inefficient and unreliable when performed manually. Thus Computer support is strongly recommended." @default.
- W4234466151 created "2022-05-12" @default.
- W4234466151 date "2014-04-02" @default.
- W4234466151 modified "2023-09-23" @default.
- W4234466151 title "Resource Estimating and Budgeting" @default.
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- W4234466151 doi "https://doi.org/10.1002/9781118849958.ch11" @default.
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