GMS 450 Final: Final Crib Sheet

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 450
• Professor: Mohammad Nikoofa

Document Summary

Week 5 project budget - how much a project. A budget is a plan for allocating organizational. A budget must be developed in order to obtain the budget ties the project 2 the organization"s aims and objectives thru organizational policy guide the project. A budget acts as a tool for upper management to monitor and. Acts as the control of the project and allocates its resources. More than the total resource costs, includes more than that such as overhead and indirect charges. Game theory: assume that competitors and the environment are enemies, trying to do you in. Organizational tradition has a large impact on budgeting. Learning curve/ learning rate each time the output doubles, the worker hours per unit decrease by a fixed percentage of their previous value: this can be used to help improve cost estimates. Mechanical tasks have lower learning rates than mental tasks.