A blog that looks at all aspects of project and program finances from budgets, estimating and accounting to getting a pay rise and managing contracts.
Written by Elizabeth Harrin from RebelsGuideToPM.com.
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Date
There’s been an interesting discussion on LinkedIn recently, in the BCS Project Management Specialist Group forum. Members have been debating the hidden costs of projects.
Once you have a few projects under your belt, you’ll find it easy enough to work out what your project is going to cost – especially if you do the exercise with your project team. The costs we focus on tend to be the things that we actually have to buy in order to deliver the project successfully, like new computers.
There are a host of things the LinkedIn group has come up with that are overlooked. For example, do you routinely factor in costs for marketing and advertising? What about database and server licensing (even if you remember client licences)?
Here are some other items that you might want to double check are included in your next project budget:
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Training
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Internal communication and marketing materials, for example posters for the launch of your project
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Redundancy payments for people leaving the company as a result of your project
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Room hire for off-site meetings (and the associated costs of feeding everyone during the lunch break)
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Travel costs
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Decommissioning costs for wrapping up defunct servers or software
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Costs for end of project party!
What else do you include, that other people might not always remember?
Posted on: September 16, 2010 03:30 PM |
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