1. Company: Phi Construction

Scenario: Project Cost Management

Data:

• Project Budget: $2,000,000
• Actual Costs: $2,200,000
• Number of Project Phases: 5

Requirements:

1. Calculate the budget variance.
2. Determine the cost per project phase.
3. Analyze the reasons for the budget overrun.
4. Discuss strategies for better project cost management.
5. Recommend measures to prevent budget overruns in future projects.