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4.1.2P Manage the Budget / Process
Is the Budget Important to You? (4.1.2P.P1)
Many project managers are not held accountable for project budgets. The reasons are detailed in section 2.2.2P Build the Budget. Obviously if the project manager does not have the processes, tools or reports to build a budget, he is not going to be able to be held accountable for managing a budget. In that case this section would not be important. (Managing the schedule is still important. Managing budget is not.)
In the rest of this section it is assumed that the project manager is held accountable for meeting budget expectations.
Managing the Budget (4.1.2P.P2)
You must do a good job creating the budget to be able to manage the budget effectively. If the budget estimate is not accurate it will be extremely difficult to manage the project to achieve the budget numbers. The project manager should use one of the following processes to manage the budget depending on the size of the project.
