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Apr 3, 2024

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Cat erp illa r: Co nfi de nti al Gre en Hello Everyone Happy Thursday!!! I hope everyone is enjoying this class as much as I am after reviewing the principles of budgeting, forecasting, scheduling, progress measurement, and actual cost, the principle you consider the most significant and vital to a project is budgeting which goes hand in hand with forecasting, it is an important pillar for the project for budgeting and forecasting to for the project manager to keep track of the budget of the project and be able to forecast when the project will be finished and if it comes under budget not to hemorrhage money (Bergerud, Christen). I feel that all five principles are vital to the success of the project, as mentioned above forecasting and budgeting are vital to the project, to keep the project under budget not go over budget, and forecasting to communicate when the project will be completed on time. The schedule is vital to the foundation of the project when the organization is completing a project the project manager needs to communicate the end date of the project the milestones of the project scope and the completion date. Similar to the budgeting & forecasting pillars of the project, progress measurement is important to the success of the project, and similar to scheduling the project manager communicates the progress of the project and any hurdles or challenges that may arise from the project scope and push the completion date back. Finally, Actual Cost is very important after the project is complete the PM communicates to the organization what the project's actual cost is either coming under cost or having to spend more to complete the project. References: Bergerud, C. (2024). EVM for the rest of us. Paper presented at PMI® Global Congress 2013—North America, New Orleans, LA. Newtown Square, PA: Project Management Institute https://www.pmi.org/learning/library/earned-value- management-benefits-5881 .

Cat erp illa r: Co nfi de nti al Gre en

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