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what is different between budget cost and budget work?

Tam Nguyen Annandale, Va, United States

what is different between budget cost and budget work?

Posted: Oct 2, 2017 2:28 AM

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Peter Ambrosy Weinheim, Germany

If you have to deliver a certain IT implementation, the amount of different needed skills in hours is reflected in the work budget. The cost budget does reflect the different cost rates for the different skills needed times hours. The overall total equals the cost budget.

Posted: Oct 2, 2017 3:25 AM

Sergio Luis Conte Helping to create solutions for everyone| Worldwide based Organizations Buenos Aires, Argentina

My recommendation is taking the PMI´s Practice Standard for Earned Value Management – Second Edition.

Posted: Oct 2, 2017 5:35 AM

Anonymous

These are not Earned Value terms
The old terms of earned value are BCWS, BCWP, ACWP
I never heard the above terms

Posted: Oct 2, 2017 11:44 AM

Praveen Malik Independent Consultant| Independent Consultant New Delhi, India

These are not the standard terms. I'm not sure where have you read these.

Posted: Oct 4, 2017 1:51 AM

Stéphane Parent Self Employed / Semi-retired| Leader Maker Prince Edward Island, Canada

My guess is that the budget cost is the financial value of the budgeted activities. And the budget work would be the effort value of the budgeted activities.

Of course, that's just a guess. You will have to verify within your own organization as to how they use these terms.

Posted: Oct 4, 2017 9:13 AM

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