An estimate of income and expenditure planned for a project.

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5
votes
2answers
431 views

How to estimate a project budget using story points?

Current workflow in our company: I create Given/When/Then scenarios or User stories Developers estimate Scenarios/User stories in hours, by giving minimum and maximum amount of time for 1 scenario/...
5
votes
2answers
195 views

Who pays when actuals exceed pessimistic estimates?

Scenario: A Developer estimates between 70 to 100 hours for a task. Due to the urgency of the task and the developer's unavailability, a far less experienced developer is assigned to the project. The ...
4
votes
4answers
137 views

Project constantly running into problems, so how does a PM manage the consistent budget impacts?

With a certain project, I reconcile on a weekly basis to determine its performance, i.e. if estimates are being adhered to or not. Issue: Every week, the team faces a new issue that wasn't accounted ...
12
votes
3answers
937 views

Budgeting in an agile project

I'm really confused on how agile projects are budgeted for cost and effort before the project starts. Cause the user stories are never completely discussed and estimated as a practice in agile. So if ...
0
votes
4answers
371 views

Who bears the cost of bug fixing in an Agile project?

I'm new to Agile projects. How do you manage the cost of bug fixing? Does the customer pays for that effort or the software factory?
3
votes
2answers
257 views

Is it possible to do project budgeting within TFS?

I am working for a software company. We are using Microsoft Team Foundation Server (TFS) for our development workflow and it works very well. Now my boss wants to get an overview of the project budget,...
1
vote
2answers
203 views

Adding requirements gathering to the project plan - time phased budget baseline (PMB)

I'm preparing a time phased budget - basically my project schedule with all resources and cost allocated. When its reviewed, I will need to baseline it for calculating variance (tracking) in future. ...
1
vote
2answers
149 views

What's a good way for a Scrum team to handle budgets and work with other departments?

In my organization, the developers are using Scrum (which started recently), but the sysadmins are not. We're about to start a large project, and we've been asked for detailed description of our ...
-1
votes
1answer
165 views

Development team budget for training and social activities [closed]

I am trying to understand if our team budget is aligned with the outside world, This is the closest sub forum out there... For a big company (500+ employees) What is the budget for 5-10 developers ...
0
votes
1answer
98 views

Calculating and tracking benefits post delivery

Prior to commencing a project we need to justify taking on the project by detailing expected benefits. To date their is no follow up on this information, no way to monitor and no way to calculate ...
0
votes
2answers
206 views

What ways have you reduced cost for a software project during the planning phase?

I am getting ready to head up an internal project. I already know that the budget will be tight on this. I am looking for effective ways to reduce project cost. What I would like to see is the most ...
7
votes
2answers
912 views

How do you plan for risks in your project's estimates?

I have been working on the risk-management topic in software development for a while. According to the different literature there could be knowns knowns (typical risks), known unknowns (product ...
3
votes
2answers
157 views

How involved should a PM be in ensuring payments for completed milestones?

In a project where payments are due according to a set schedule, what is the role of a PM in ensuring these obligations are met? Example of a payment schedule within an agreement: 50% deposit, 25% ...
3
votes
3answers
171 views

Finding similar projects for cost comparison?

We're developing an application on a contract basis for an arm of a governmental organization. At the moment, we're students, and payment was slated to done using student funding avenues. However, I'...
5
votes
4answers
400 views

Trying to develop a Project Health Check tool - How can I show the Health of a Project in Dollars and Hours?

My projects generally have 6 areas (Engineering, Fabrication, Assembly etc). Each area has been allotted a budget for a particular project (dollars and hours). Every week, I get a report on how much ...
1
vote
2answers
1k views

The meaning of & Calculating Project Budget

I'm very new to the whole Project Management world, so this question may be at the beginners level, anywho: What is the Budget Cost compared to the full Cost of the Project?, based on the research I ...
5
votes
5answers
602 views

My boss says a Senior PM should show more commitment

As a PM I am working with a team and I almost always define our times, however, sometimes my boss stipulates a deadline to the presentation, and even when I discuss it with him he explains the project ...
11
votes
4answers
8k views

In Scrum, who is responsible for the project's budget?

I have read many books about Scrum, blogs and academic articles. Though, all of them dodge from explicitly acknowledging this question: Who is responsible for the project's money? Why is this person ...
4
votes
4answers
170 views

Is there a difference in methodology between low and high budget projects?

I ask the question since I'm a relatively new PM (less than 3 years). Currently, the project budget I deal with are around the $250K mark with a 4-6 month timeline (our hourly rate is $250/hour). Now ...
3
votes
7answers
2k views

Should a project Manager include his own cost when costing a project?

Should a project Manager include his own cost when costing a project? I have included the cost of resources I have hired to work on the project, but should I include my own cost to the business in the ...
9
votes
17answers
618 views

What is the main factor that makes your project not meet its goals most of the time? [closed]

What is the most common problem you face regularly and how you can avoid it? I wonder if we, as a community, will agree on the same thing? I ask for some short answers (just in a few words) to ...
3
votes
2answers
194 views

Developing a digital strategy

I work in Australia for one of the world's largest companies. Our marketing team has a large budget for IT (information technology) projects but has very little direction or guidance in the way that ...
4
votes
2answers
670 views

Database of project proposals

In academia we constantly need to write project proposals and apply for funding. Sometimes it helps to read what others have already tried or written in order to learn from them. I wonder whether ...
3
votes
3answers
126 views

How to decide to take a project when it's depending on a tool your team doesn't know?

It happened to me recently, I'm kinda newbie on PMing, so I ask this to an experienced community. A potential client contacted me through the guy (intermediary) who offered the job to me. But to ...
5
votes
4answers
275 views

How to Give Better Estimations to Customers

We are working in an environment where customers give us thick requirement documents and they expect the technical team to do an estimation on the whole requirement. Once they receive our estimates, ...
10
votes
5answers
2k views

Justifying a Project Manager

I work at a small company our development team is just me and a jr. developer. We just hired another intern. I'm having a hard time justifying to my boss that we need a project manager. What are ...
9
votes
6answers
1k views

A project manager should know how much his/her project members earn monthly?

A project budget includes fixed and variable costs. In most cases (especially in weak matrix and pure functional organizations) salaries of project members are variable costs. In order to calculate ...