Question: Question 2 2.2 Using any relevant examples, discuss the significance of project budgets and provide recommendations of any TWO (2) approaches that can be utilised

Question 2

2.2 Using any relevant examples, discuss the significance of project budgets and provide recommendations of any TWO (2) approaches that can be utilised when budgeting for project costs.(20 MARKS)

2.2 Project overrun relates to a situation that occurs when the project's actual cost exceeds the initial budget. This causes a deficit in the project's financial needs and can slow or halt a project entirely. Considering this, discuss the technique that can be utilised by project managers to mitigate against project overruns by conducting monitoring and control.(20 MARKS)

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