Budgeting and Cost Management Feature Definition and Explanation PDF | Download eBooks
Learn Budgeting and Cost Management Feature definition in project management with explanation to study “What is Budgeting and Cost Management Feature”. Study budgeting and cost management feature explanation with project management terms to review project management course for online MBA programs.
Budgeting and Cost Management Feature Definition:
Budgeting and cost management feature is a feature of project management software that provides the ability to effectively plan and manage the costs of projects.
Successful Project Management by Jack Gido and James P. Clements
Budgeting and Cost Management Feature Explanation:
Different project management softwares are used in the field of project management. A number of features are available in these types of softwares. One of them is budgeting and cost management feature. This features is used to carry out all the cost related activities. Costs and budgets are managed efficiently using this feature. Budgeting and cost management feature includes billing and billing methods (usually involve automated billings), cost to completion tracking (tracking progress with respect to cost), earned value management, multiple currency, payroll integration, percent complete tracking (completed work as a percentage of total work), accounting and cost control, cost estimation, time and expense reporting.
Keep Learning Project Management Explanations
What is Teamwork?
A project team is a group of people having different backgrounds, skills and expertise who work togehter to achieve a ...
What is Project Business Case?
During a project, documentation is very important. It enables the project manager to record all the necessary information regarding project. ...
What is Logical Data Model?
An organization can involve a very large amount of data. The visual representation of this data is done through logical ...
What is Variability Risk?
Every project has some uncertainty. There is always a chance that an unfortunate event might happen during the project. This ...
What is Ethical Behavior?
Project team members must show ethical behavior during the project. Ethical behavior shows doing things that are consistent with the ...
What is Success?
When projects are carried out, the most important aspect is the success. The definition of word 'success' is getting or ...