e Baseline budget - the project's intended budget as stated in the project governance report. e Forecast budget - the project's budget as identified in the current project plan, taking account of any actual or forecast variances. e Variance - the difference between the baseline budget and the forecast budget.

e Escalation conditions % - the amount against which variance is compared to determine whether it should be referred to the portfolio management team. e Within escalation conditions? - a yes/no response.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

Get My Free Ebook

Post a comment