GMS 450 Chapter Notes - Chapter 6: Fixed Cost, Cost Accounting, Project Charter

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 450
• Professor: Peter Monkhouse

Document Summary

Consider the job of planning the project, developing a budget, and scheduling all of the tasks. >the plan includes the budget indicating both the amounts and timing of resources received or expended. >the project also implies a schedule just as a a schedule implies a plan. Budgeting and scheduling are interconnected activities, equally important topics, and should be done simultaneously. In cost management process, costs are estimated using resource planning. The estimated costs are budgeted by an organization, and the project manager controls the budget. A project manager has to control schedule, performance, scope, value, and resources in order to control the costs. List all required resources based on wbs: each task listed in wbs demands particular skills or knowledge. Based on this information, resources can be identi ed and listed. Labour: identify all the roles involved in undertaking the project, including all full-time, part-time and contracting roles.