Questions tagged [budget]

An estimate of income and expenditure planned for a project.

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What does it technically mean to be a budget owner? [closed]

What does it mean to be a "budget owner" in terms of... Role (e.g. were you a project manager or product manager)? Responsibilities (e.g were you granted access to an account from which you ...
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Milestone based or Calendar based payment terms in fixed-price projects

probably this is a question not about project management, but I would like to hear your experience or you could suggest where should I look (googling did not help) So IT service providers use to have ...
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Federal Grant - Time Tracking

Let's say I'm awarded a US federal grant for my project, of which I'm the PI on. How granularly does the US government need me to track time? Two subquestions to this: My preference is to use a ...
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How to ask a developer for the cost of building my website?

I want to hire a developer to build my custom website application (browser based), but I don't know how and what to ask to determine budget requirements. Is there a 'blueprint' or suggested method ...
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What is a budget of an outsource fixed-price project

Let's suppose there's a customer who needs a software product and there's a custom software development company that is ready to implement this product. They agreed that the customer has to pay X (...
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Pricing risks when developing a project's budget

During the initiation and planning a project how much do we add to the project's budget in order to take into account discovered risks? And how much should we raise the price of the project for a ...
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Financial indicators of a project and a project manager's efficiency

A project manager's responsibility is to lead a project to a successful completion, which includes finishing the project on time, a happy customer, a proud team, etc. But it also includes financial ...
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6 answers
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How can you make a project succeed by raising budget?

So I was reading this Answer and it brought to mind a question I've held for a while but never got around to asking. If you've got a late project with fixed scope, schedule, and quality, you're ...
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Can code base metrics be used for budgeting for software engineering or code maintenance?

Recently my manager asked my team for some metrics on the code base, in order to budget for my team. These are the metrics requested: Number of source code files Code Lines Comment Lines Blank Lines ...
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What can I do when I can't adjust scope, resources, or schedule and a team member wants a raise?

After almost 20y programming and 5y managing I have arrived at a state to be so confused with the basics that I need help from outside! At the project management we have 3 pillars: Scope: features ...
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1 vote
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Project budgeting by financial year vs lifetime?

We're discussing how project budgets will be set and tracked. My view is that the budget should be set for the duration and tracked that way. Our finance team have a preference for the budget to be ...
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How to negotiate a software proposal?

My company (western Europe) needs to outsource a project, and I received an offer from a eastern Europe software company. The proposal consists of a main part and an optional part. The work is ...
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2 votes
2 answers
303 views

CPI value at project closure

What should the CPI be after a project was closed (the project was not canceled)? Must the CPI always move to 1 at project closure or could it remain at the last indicated value (example 0.85) before ...
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-1 votes
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Time-budget tracking monitoring for PM and client

As a PM I constantly struggle to shuffle information about used-up and remaining time budgets between customer and development team. After receiving a job from the customer, and after detailing it ...
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1 vote
2 answers
2k views

What is 'overhead' in a research project budget?

I am a new to project management, and I have started working on a European project proposal. I can't figure out what "overhead" actually is. Can anyone explain to me, or provide me with sources from ...
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QA time budgetting

I am currently preparing a proposal to a client for a large web application development. My environment is outsourced software development. I need to budget QA time for the project. Usually, from ...
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2 answers
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Project Management without access to budget or deadlines

A lot of (read:all) project management literature and methodology focuses on knowing your budget and deadlines for when projects need to be completed and how much they should cost. At my workplace, ...
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2 answers
116 views

Estimating and Project budgets

I'd be interested to hear how you manage dealing with project budgets when having to provide a fixed cost up front for the customer ahead of starting the work? For context, and without giving too ...
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2 answers
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Accounting for design, discovery and analysis activities in Scrum project budget forecasts

Consider this scenario: Backlog: 100 story points, project budget $100,000 (based on past team velocity/cost of delivering 1 SP per $1000 time spent). Stories are based on product development. Week ...
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2 answers
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How can I calculate earned value in MS Project with variable costs?

I'm using MS Project to manage training projects as a vendor. We are currently calculating earned value based on the hours budget for deliverables. However, we often have multiple people on the ...
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4 votes
2 answers
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How do you financially quantify the 'holding cost' of not releasing items until you have a big batch?

In Don Reinertsen's book - Principles of Product Development Flow - the tradeoff between release size (number of stories) and release cost (regression test cost and release cost) is described like ...
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2 answers
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How can I produce more reliable estimates for technology refresh projects?

After running a few projects that refresh technology rather than add functionality, I've noticed a few recurring themes: Technology refresh projects are more likely to go over budget/schedule; ...
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Earned value analysis by client and vendor

We all know that some project managers (those that follow PMBOK/PMP) do earned value analysis to know SPI and CPI. Schedule Performance Index (SPI) = Earned Value ÷ Planned Value -- How are we doing ...
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Dealing with an agency who can't give a definite quote

I am currently working with an agency for a client to implement new features or fix bugs. The trouble that I am having is that they can never give me a definite quote in terms of hours, their business ...
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9 votes
3 answers
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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/...
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6 votes
2 answers
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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 ...
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4 answers
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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 ...
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18 votes
4 answers
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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 ...
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4 answers
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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?
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4 votes
2 answers
1k 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,...
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1 vote
2 answers
434 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. ...
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2 answers
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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 ...
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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 ...
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1 vote
1 answer
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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 ...
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2 answers
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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 ...
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9 votes
2 answers
2k 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 ...
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4 votes
2 answers
179 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% ...
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3 votes
3 answers
332 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'...
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5 votes
4 answers
643 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 ...
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2 votes
2 answers
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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 ...
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6 votes
5 answers
633 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 ...
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16 votes
5 answers
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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 ...
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4 votes
4 answers
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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 ...
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4 votes
9 answers
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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 ...
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9 votes
17 answers
781 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 ...
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3 votes
2 answers
247 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 ...
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2 answers
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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 ...
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3 votes
3 answers
162 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 ...
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5 votes
4 answers
352 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, ...
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13 votes
5 answers
5k 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 ...
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