Question: Company: Phi Construction Scenario: Project Cost Management Data: Project Budget: $2,000,000 Actual Costs: $2,200,000 Number of Project Phases: 5 Requirements: Calculate the budget variance. Determine
- Company: Phi Construction
Scenario: Project Cost Management
Data:
- Project Budget: $2,000,000
- Actual Costs: $2,200,000
- Number of Project Phases: 5
Requirements:
- Calculate the budget variance.
- Determine the cost per project phase.
- Analyze the reasons for the budget overrun.
- Discuss strategies for better project cost management.
- Recommend measures to prevent budget overruns in future projects.
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