Explain why many IT professionals may disregard project expense management and how this may impact project completion. Explain the project budgeting procedure. 2. What is sunk cost? Give instances of both standard IT sunk costs and personal sunk costs. Why is it so hard to ignore them?

Q: Why estimating time and cost is important to the project. What you think is difficult about…

A: Estimating time and cost is important to the project -- There are mainly 3 things conventional…

Q: Justify the requirement for a trained project manager to oversee complicated tasks.

A: According to the question the project manager always has power to conduct something explain everyone…

Q: How does requirement analysis help in reducing project risks and costs?

A: Requirement analysis is a phase, in project management, that plays a role in minimizing project…

Q: Justify the reasons why many IT professionals could ignore project expenditure management and how…

A: Information technology:- Information technology (IT) is the use of computers and related tools to…

Q: Why estimating time and cost is critical. What you find problematic about project time estimation.…

A: Estimating time and cost is important to the project: Cost estimating enables you to do what you…