Plan and Manage Budget and Resources Task includes the following enablers:
- Estimate budgetary needs based on the scope of the project and lessons learned from past projects
- Anticipate future budget challenges
- Monitor budget variations and work with governance process to adjust as necessary
- Plan and manage resources
To learn the Plan and Manage Budget and Resources Task you need:
- In the PMBOK Guide 7th Edition, read chapters 2.3 (part ‘Standard’) and 2.4, 2.5, 2.6, 2.7, 2.8, 4.6 (part ‘PMBOK’).
- Read chapters 5.11-5.13, 5.15, 5.16, 6.4, 7.6, 7.8, 9 (Activity attributes, Cost baseline, Cost estimates, Cost forecasts, Cost management plan, Enterprise environmental factors, Physical resource assignments, Pre-assignmen, Project charter, Project funding requirements, Project schedule, Resource breakdown structure, Resource calendars, Resource management plan, Resource requirements, Work performance information), and 10 (Analogous estimating, Bottom-up estimating, Earned value analysis, Hierarchical charts, Reserve analysis, Resource optimization, Responsibility assignment matrix, Schedule compression, Source selection analysis, Three-point estimating, To-complete performance index, Variance analysis) in the Process Groups: A Practice Guide.
- Watch and read an appropriate visual on PMIllustrated.com.
- Watch the videos:
5. Test your knowledge to complete the study of the task.