Project Management

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Who approves the project budget for project executing?

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Truc Pham Trung CEO & Founder| GTARGET CONSULTANT CO., LTD Ho Chi Minh, Viet Nam
PMBOK 6th does not mention on this thing. It makes us a lot of confusing. If I am a freelancer, is asked to issue a quotation, for developing an application project. After many iterations, the buyer agrees my proposal ($10,000), so is this the project budget?
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Sunil Kumar Dwivedi Thane, Maharashtra, India
Project sponsor approves project budget
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Kimberly McCoy Project Manager| TekSystems - Contractor Zanesville, Oh, United States
It is the sponsor who approves the budget, but in real life it could be countless people.

If you are working for a customer (even if they are not the true sponsor), yes they can approve or deny your budget, the sponsor could, or also a leadership group could be the ones to approve a budget. Honestly, in real life situations, it will depend on your organization culture.
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1 reply by Rami Kaibni
Aug 21, 2019 6:02 PM
Rami Kaibni
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It all depends on your organization and the Governance structure.
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Rami Kaibni
Community Champion
Senior Projects Manager | Field & Marten Associates New Westminster, British Columbia, Canada
Aug 21, 2019 4:43 PM
Replying to Kimberly McCoy
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It is the sponsor who approves the budget, but in real life it could be countless people.

If you are working for a customer (even if they are not the true sponsor), yes they can approve or deny your budget, the sponsor could, or also a leadership group could be the ones to approve a budget. Honestly, in real life situations, it will depend on your organization culture.
It all depends on your organization and the Governance structure.
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Stéphane Parent Self Employed / Semi-retired| Leader Maker Prince Edward Island, Canada
The approval may come from your PMO.
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1 reply by Rami Kaibni
Aug 22, 2019 11:54 AM
Rami Kaibni
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Stephane, not all organizations have a PMO and it also depends on the PMO Role whether it is directive or supportive so it all goes back to how the organization governance is defined.
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Rami Kaibni
Community Champion
Senior Projects Manager | Field & Marten Associates New Westminster, British Columbia, Canada
Aug 22, 2019 9:57 AM
Replying to Stéphane Parent
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The approval may come from your PMO.
Stephane, not all organizations have a PMO and it also depends on the PMO Role whether it is directive or supportive so it all goes back to how the organization governance is defined.
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