Get Your Project Team Funded

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Get Your Project Team Funded

Tom L. Barnett, PMP

February 4, 2008





Creating a budget for a project is sometimes a challenge (okay, most times). As a project manager approaching a new project, you may want to dispel some of the murkiness around what a project will cost before itemizing out a more formal, detailed project materials bill. To get that first level of clarity usually relies upon techniques of varying levels of difficulty.
 
Hardware cost, for example, may be gleaned from a vendor’s website, and the same is sometimes true for the software. When we get to our human resource cost estimates for a project, there tends to be just as many ways of getting there as there PMs who do it. The following technique is what I have used for several years on my projects.
 
Budgetary Resource Estimates
The key point to understand is that I am looking for a budgetary figure.



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