Pre-approved financial resources

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salman_2005
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Pre-approved financial resources

Postby salman_2005 Wed Oct 10, 2018 8:57 pm

What are the Pre-approved Financial resources mentioned in the project charter? Is it the team and other physical resources already given for the PROJECT?

How does it help in plan cost management, the PMBOK says detailed project cost is developed based on pre-approved financial resources?

Please help in understanding.

Thanks

Salman
manishpn
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Re: Pre-approved financial resources

Postby manishpn Tue Oct 16, 2018 3:53 pm

salman_2005 wrote:What are the Pre-approved Financial resources mentioned in the project charter? Is it the team and other physical resources already given for the PROJECT?

They are both human and other resources.


How does it help in plan cost management, the PMBOK says detailed project cost is developed based on pre-approved financial resources?

When a project charter is approved (based on the business case) approximate budget is allocated , In a project charter, financial resources are included as a high-level view of the project budget. These financial resources cover the cost for labor, supplies/equipment, and travel.

Please help in understanding.

Thanks

Salman
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Manish P
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salman_2005
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Re: Pre-approved financial resources

Postby salman_2005 Tue Oct 16, 2018 4:37 pm

Thank you Manish!

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