Question: A project team is in the process of developing an approximation of the monetary resources needed to complete project work for a large-scale multinational project.

A project team is in the process of developing an approximation of the monetary resources needed to complete project work for a large-scale multinational project. Previous projects of this nature have been plagued with cost overruns and the Project Manager has decided to take a different approach to develop the budget for the current project. He has decided to use the Zero-based budgeting approach.

A. Critically assess the value of using this approach (Zero-based budgeting), as against other approaches, in developing the budget for this project. (16 marks)

B. Briefly outline TWO (2) aims of Zero-based budgeting

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