Page 90 - Budgeting for Managers

Planning and Budgeting a Project
73
Use Project Planning the First Time
You Do Anything
If you’re starting a new production effort, use a project plan
for the first cycle. It will give you the best possible estimate and budg-
et.After you’ve done it once, you’ll have a budget for comparison next
time.After you’ve done it three or four times, you’ll have a production
work plan ironed out.
For example, many students in my project management class have
been asked to create a quarterly corporate magazine or newsletter.
They use project management for the first three issues, until they
know how to do the work well and are ready to make a production
schedule and budget.
within a limited schedule and budget, is the art of project man-
agement.
Define the Project
Writing a project plan is essential. Without a written plan, we
can’t be sure that everyone has agreed to do the same thing.
By filling out the Quick Project Overview template in Tables 5-1
and 5-2, we get everyone on the same page. Table 5-1 gives an
overview with field definitions. Table 5-2 (pages 76-77) is a
blank table that you can copy.
Project Name: Descriptive name that indicates project purpose to
all parties.
Project Requested by: Customer
Project Manager: IT manager of project
Imposed Budget: Dollar amount desired or required by customer
Underline One:
required limit desired limit not yet set
Imposed Delivery Date: Delivery date desired or required by cus-
tomer
Underline One:
required desired not yet set

Table 5-1. Quick project overview with field definitions (continued
on next page)