Question: Read Chapter 7 from the course text and answer the following three questions in detail: 1 . Why do many IT professionals may overlook project

Read Chapter

7

from the course text and answer the following three questions in detail:

1 .

Why do many IT professionals may overlook project cost management and how this might affect completing projects within budget.

2 .

What is meant by a sunk cost? Give examples of typical sunk costs for an IT project as well as examples from your personal life. Why is it difficult for people to ignore them when they should?

3 .

Explain what happens during the process to determine the project budget.

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