Explain how you will manage costs for your project by using WBS, Include:
• Who is responsible for managing costs in the projectand
• explain how you will use the WBS to manage your costs to finish.

 

 Explain how you will measure the project costs. Include:
• How will you monitor all costs to make sure you are staying within budget?
• How will you make adjustments if tasks are falling behind, or expenditure is too high?
• What are the agreed tolerances you need to meet in developing your budget?

 

   Explain the following:
• how often should financial reporting will be done
• what information will be reported
• how and when you will report variances

Answer rating: 100% (QA)

To manage costs for a project the Work Breakdown Structure WBS can be utilized as a valuable tool The WBS provides a hierarchical breakdown of the projects deliverables tasks and activities which allo... View the full answer