Project management: 5 tips for managing your project budget – CIO Australia

New projects and campaigns are the fuel to brand awareness and increased revenue streams when it comes to business. However, often times, allocating and sticking to a given budget can be a difficult thing to do. By applying the most effective project management and budgeting techniques, project managers can better understand how to implement a proper campaign. Keeping in mind the stakeholders, and expecting the unexpected, are just a couple of the many management techniques that can be used.

Key Takeaways:

  • The success or failure of a project can be determined by budget overruns.
  • Everyone involved in the project needs to be fully informed at all times – including the stakeholders and the team members.
  • The project budget is a living part of the project, and it must be reviewed on a regular basis to experience project success.

“What stakeholders say they need or want in a project often isn’t as simple as it may seem upfront.”

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