As an Amazon Associate I earn from qualifying purchases.

Budget at Completion Definition and Explanation PDF | Download eBooks

Learn Budget at Completion definition in project management with explanation to study “What is Budget at Completion”. Study budget at completion explanation with project management terms to review project management course for online MBA programs.

Budget at Completion Definitions:

  1. Budget at completion is the sum of all budgets (BCWS) allocated to the project.

    Project Management: A Systems Approach to Planning, Scheduling, and Controlling by Harold Kerzner?

  2. Budget at Completion is the sum of all budgets established for the work to be perfromed.

    A Guide to the Project Management Body of Knowledge by Project Management Institute

Budget at Completion Explanation:

Different costs are associated with a project. One of them is called budget at completion. Budget at completion is the termed as the sum of all the budgets that are allocated to the project. A project is divided into different activities and work packages. Each work package and activity has a specific budget based on the resources to be used. When the budgets of all the work packages and activities are added, it gives budget at completion. Budget at completion (BAC) is usually calculated in early stage of the project i.e. in the contract. Budget at completion is used to calculate the estimated cost at completion.

Keep Learning Project Management Explanations

What is Communications Management?

Effective communication among the key stakeholders of the project are necessary. This communication must be managed properly. The process of ...

What is Total Slack?

Sometimes an activity takes more time than the estimated duration. This time must be calculated in order to know if ...

What is Pre RFP?

Some contractors develop strong relationships with the potential customers in order to submit proposal before a request for proposal is ...

What is Affinity Diagram?

When the requirements of the project are collected, they have to be presented in a way that is easily understandable. ...

What is Quality Management Plan?

Just as important it is to complete the project on time and provide the required deliverables to the customer, it ...

What are Time Management Skills?

A project manager must possess time management skills. A project is time specific. It involves a lot of tasks and ...