The Effective Resource Budgeting as a Tool for Project Management
Keywords:Resource Budgeting, Budgeting, Resource Management, Tools, Project
In our globalizing world the competition among firms producing the same goods and services have intensified, every organization now seeks to maximize funds and resources while delivering the best results for projects embarked on towards the overall profitability of said organization. Consequently, understanding the relationship between effective resource budgeting and project management is a necessity. The main purpose of this study was to determine if there is a significant relationship between effective resource budgeting and project management. In this research paper, a literature review in the field of resource budgeting and project management was presented, and the papers were discussed for a deeper understanding of state of the art. This research made use of quantitative method to gather data due to the nature of the topic. Survey was used as a method of data collection. It was concluded that resource budgeting is a tool for project management, hence effective resource budgeting goes a long way in ensuring the success of a project. It was recommended that a more comprehensive research covering other states in Nigeria should be carried out so as to contribute to existing knowledge on project management.
Keywords: Resource Budgeting, Budgeting, Resource Management, Tools, Project Management
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