the same for the life of the contract except for customer-directed or approved changes or when contractor management determines that a reduction in budget is advisable. However, if a budget is reduced by management, it cannot be increased without customer approval.

The time plan is normally a monthly mechanical printout of all planned effort by work package and organizational element over the life of the contract, and serves as the data bank for preparing the status completion reports.

Initially, the estimate-at-completion report is identical to the budget report, but it changes throughout the life of a program to reflect degradation or improvement in performance or any other events that will change the program cost or schedule.

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.

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