Why include management contingency in project budget


1. Write down the three project team structures? Write down some of the elements which dishtinguish team structures from one another? How is project team structure associated to project manager's authority level?

2. What do each of letters in SMART acronym stand for? Explain what each piece of SMART acronym means? Why is SMART acronym significant part of developing requirements for project?

3. What is project schedule? Give the suiatble example of project milestone? How would you describe to project team member what dependency relationship was between two tasks and why it was significnt?

4. Write the function of project budget? Describe difference between Cost Account Budget and Time Phased Budget? Why is it significant to include management contingency in project budget and how you would compute amount of contingency required?

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Project Management: Why include management contingency in project budget
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