What is a time-phased budget and how does it help a project manager control costs?
What will be an ideal response?
A time-phased budget allocates costs across both project activities and the anticipated time in which the budget is to be expended. The budget can be displayed as a table with one dimension representing time and the other dimension representing the major cost categories or the budget can be summarized by a time plot of dollars. A time-phased budget allows the project manager to match the project schedule with a budget baseline, identifying milestones for both schedule performance and project expense.
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