【文章內(nèi)容簡介】 業(yè)設(shè)計(jì)外文文獻(xiàn)及譯文Order of Magnitude estimate – a amp。quot。ball parkamp。quot。 estimate, usually reserved for the concept phase onlyAnalogous estimate – an estimate based on previous similar projectsParametric estimate – an estimate based on statistical relationships in historical data? Whichever approach is adopted, hopefully the sum thus arrived at will be approved in full and proves to be satisfactory! This is the trigger to start the Execution Phase of the projectNote: Some managements will approve some lesser sum in the mistaken belief that this will help everyone to amp。quot。sharpen their pencilsamp。quot。 and amp。quot。work smarteramp。quot。 for the benefit of the organization. This is a mistaken belief because management has failed to understand the nature of uncertainty and risk in project work. Consequently, the effect is more likely to result in amp。quot。corner cuttingamp。quot。 with an adverse effect on product quality, or reduced product scope or functionality. This often leads to a amp。quot。gameamp。quot。 in which estimates are inflated so that management can adjust them downwards. But to be fair, management is also well aware that if money is over allocated, it will get spent anyway. The smart thing for managements to do is to set aside contingent reserve funds, varying with the riskiness of the project, and keep that money under careful control.Ownership of approved capital? If senior management approves the RFA as presented, the sum in question bees the responsibility of the designated project sponsor. However, if the approved capital request includes allowances such as a amp。quot。Management Reserveamp。quot。, this may or may not be passed on to the project’s sponsor, depending on the policies of the organization.? For the approved RFA, the project sponsor will, in turn, further delegate expenditure authority to the project’s project manager and will likely not include any of the allowances. An exception might be the contingency allowances to cover the normal variations in work performance. ? The net sum thus arrived at constitutes the project manager’s Approved Project Budget.Note: If management does not approve the RFA, you should not consider this a project failure. Either the goals, objectives, justification and planning need rethinking to increase the value of the project’s deliverables, or senior management simply has higher priorities elsewhere for the available resources and funding.The Project’s Execution PhaseThe project manager’s Project Budget responsibility4 山東建筑大學(xué)畢業(yè)設(shè)計(jì)外文文獻(xiàn)及譯文? Once this Approved Project Budget is released to the project manager, a reverse process must take place to convert it into a working control document. That is, the money available must be divided amongst the various WBS WPs that, by the way, have probably by now been upgraded! This results in a project execution Control Budget or Project Baseline Budget, or simply, the Project Budget. In some areas of project management application it is referred to as a Project Cost Plan.? On a large project where different corporate production divisions are involved, there may be a further intermediate step of creating amp。quot。Control Accountsamp。quot。 for the separate divisions, so that each division subdivides their allocated money into their own WBS WPs.? Observe that, since the total Project Budget received formal approval from Executive Management, you, as project manager, must likewise seek and obtain from Executive