Question: Question 1 : Describe why it is necessary to develop a baseline budget for a project. Question 2: What does the term reserve mean? Should

Question 1: Describe why it is necessary to develop a baseline budget for a project.

Question 2: What does the term reserve mean? Should a reserve amount be included in a project proposal? Explain your answer.

Question 3: Why is it necessary to track actual and committed costs once a project starts?

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