Project Management Capstone - Schedule, Budget, and Controls Assignment

Project Management Capstone - Schedule, Budget, and Controls - Assignment ExampleA budget calendar is a form of plan that is apply to enhance timely and comprehensive implementation of the numerous actions of the budget. expression of a schedule for the procedures and steps that leave be followed in each phase of the process of development the budget is planned for in the budget calendar (Spofford & Savov, 1999). In addition, the participants of budget development, as well as, their duties atomic number 18 defined in the budget calendar. The budget calendar also keeps the actions that are required by jurisprudence on track (Spofford & Savov, 1999). It is in the budget calendar that decisions of goals found on the organizations abundant term vision and company needs are made. Also, decision on the long term goals, based on revenue allocation and evaluation will be made using the budget calendar. outline and review of the budget, adoption of the budget, as well as execution of the budget are carried out by the budget calendar (Spofford & Savov, 1999).Secondly, a revenue forecasting model can be used as a tool for schedule and budget development. This will involve cost and investment estimations, applicable disregard rate to account for risk and revenue forecasts, which should be made so as to determine the strength value of new products (McIntyre, 2013). Using the revenue forecasting model, the current market share can be obtained by ensuring that companys customer base is multiplied by total penetration, multiplied by the share of penetration of the product, multiplied by the unit price of the product, multiplied by the number of units that will is sold per the year (McIntyre, 2013). Given that performance budgeting is the most ideal type budgeting and scheduling for this project, which focuses on unquestionable or projected results, budget decisions will be shifted from inputs to outcomes.Analytic tools can also be used to develop both the schedule and the budget because such tools empower those