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Within project management, the process of estimating project budgets is often f
Within project management, the process of estimating project budgets is often filled with challenges and uncertainties, leading to instances where projects exceed their initially allocated resources. Drawing upon the insights provided in the chapter and in your additional research, critically analyze the reasons behind the common phenomenon of projects running over budget. Explore the various factors that contribute to the inconsistency in budget forecasting. Additionally, examine the role of project management schedules in addressing these challenges. How does the project management schedule serve as a tool for evaluating progress, identifying bottlenecks, and facilitating creative resource reallocation to ensure timely completion and adherence to budgetary constraints? Support your analysis with real-world examples and relevant literature in the field of project management. Your research should be used throughout your post.
Grading Criteria – Refer to the Discussion Forums Grading RubricDownload Discussion Forums Grading Rubric
The purpose of the weekly discussion forum assignment is for students to have an opportunity to contemplate the material presented during that week, and to gain new perspectives from each member of the course.
This assignment is related to Program Objective #6, and Course Student Objectives 1-5.
For full credit (30 points) on the discussion forums, students must:
make a substantial initial post (500 word minimum) responding to the discussion prompt questions while citing at least two credible sources (15 points) and
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