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Issue 1: Varied approaches to budgeting and forecasting Approaches to budgeting and forecasting vary in the training organisation based upon the background and approach of
Issue 1: Varied approaches to budgeting and forecasting Approaches to budgeting and forecasting vary in the training organisation based upon the background and approach of the person doing the work. Therefore, consistency across these elements of a project are lost. Training organisation face the need to standardise their budgets and forecasts so that there is a level of reliability in how budgets and forecasts are created in one project versus another part of the project. Issue 2: Integration of schedule and cost The integration of schedule and cost is also another cause for concern. Schedulers tend to work in terms of work breakdown structures(WBS) structures and activities, whereas cost analysts and finance report and manage by cost codes, transactions, and fiscal periods. Each side typically has different managers who are reviewing their data and schedules. Scheduling and cost are also often using different tools to report their data. Therefore, pulling information from both sides has been a challenge. Issue 3: Accuracy of Reports Once the data has been collected and the format has been established for a report, there then comes the need to ensure that the report is accurate and understandable. For example, a summary report should be able
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