Budget

From PEaM

PMI	Budget is the approved estimate of the project or any Work Breakdown Structure component or any schedule activity.[1]

AACEI	Budget is a planned allocation of resources. The planned cost of needed materials is usually subdivided into quantity required and unit cost. The planned cost of labor is usually subdivided into the workhours required and the wage rate (plus fringe benefits and taxes).[2]

See also

Estimate

References

1. ↑ Project Management Institute (2008). A Guide to The Project Management Body of Knowledge, 4th, Project Management Institute.
2. ↑ Association for the Advancement of Cost Engineering International [AACEI] (2007). Cost Engineering Terminology, 10S-90, Association for the Advancement of Cost Engineering International.

This article contains text from the Project Management Institute PM Body of Knowledge which is copyright all rights reserved by Project Management Institute, Inc. (PMI). Project Management Body of Knowledge is a registered trademark of PMI

This article contains text from the Association for the Advancement of Cost Engineering website which is copyright all rights reserved by Association for the Advancement of Cost Engineering International (AACEI).