Question 1) An effective Project Portfolio does not just happen. There is a process that must be developed and then followed to help ensure a successful portfolio. Let's start this discussion by examining what decisions must be made before a project is actually looked at or considered. So where do you start in the preprocess stage?
Question 2) Define overhead costs in relation to a project, and explain why it is important to the project manager.
Question 3) The process that is used for budgeting is as important as the source of the details of the cost estimates. There are two fundamental processes: Top Down performed by upper management, and Bottom Up performed by representatives of the project team that will be doing the work.
Describe the two processes. Which do you favor and why?