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There's two methods to manage and Management your projects: project forecasts and project budgets. You may use forecasting if your organization has an operational perspective and focuses on the revenues and expenditures that happen to be derived from certain transactions. However, In case your Firm focuses a lot more on fiscal quantities, You may use budgeting.
Project accounting is commonly used by government contractors, the place a chance to account for charges by agreement (and sometimes contract line item, or CLIN) is normally a need for interim payments.[five]
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