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Topic History of : Determining Budget and Procurement

Max. showing the last 6 posts - (Last post first)
4 years 4 hours ago #8064

Ahmed Amin

Ahmed Amin's Avatar

Hi Warren,
one of the main inputs to determine budget process is the "Activity Cost Estimates", if you refer back to section 7.2.3.1 in the PMBOK guide, you will find that activity cost estimates" includes, but is not limited to, direct labor, materials, equipment, services, facilities, information technology, and special categories such as cost of financing (including interest charges), an inflation allowance, exchange rates, or a cost contingency reserve. Indirect costs, if they are included in the project estimate, can be included at the activity level or at higher levels."

hope this helps.
4 years 13 hours ago #8063

Warren Rutledge

Warren Rutledge's Avatar

I am having a problem understanding how the determine budget process works without and inputs from procurement. In my mind, the budget has to support equipment purchases and such. Where am I missing the boat?

Please help.

Regards.

OSP INTERNATIONAL LLC
OSP INTERNATIONAL LLC
Training for Project Management Professional (PMP)®, PMI Agile Certified Practitioner (PMI-ACP)®, and Certified Associate in Project Management (CAPM)®

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