PMBOK® Guide Sixth edition Funding Limit Reconciliation amp SCurve

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This video explains How the expense when gets aggregated in accumulating fashion, start taking the shape of S-Curve. So we get more details about determining the budget and how do we reconcile the funding limit with it. As per the PMBOK® Guide Sixth edition, the expenditure of funds should be reconciled with any funding limits on the commitment of funds for the project. • This is explained with an example of a small project of duration 10 days. The project has 2 days of Analysis, 6 days of Development and the last 2 days for Deployment. • 1 person is assigned for Analysis, 3 for development and 1 for deployment. • Initial 2 days 1 person, so 2 Man days, then 3 person for 6 days which means 18 man-days and then 2 man-days. So in total it is 2 +18 +2= 22 Man-days • Assuming the rate of 1 Man day is USD 100, so the total money required is 22*100= USD 2200. • A graph is plotted based on this data with days in the x-axis and money on the y-Axis. When the graph is plotted, an s-curve is formed. • Expenses are on a daily basis, but one cannot go to sponsor every day for money. It is like take some, use it and request it again after the first milestone an so on. • This money request inflow and outflow is funding limit reconciliation. • You can explore the videos for the complete course here • https://www.izenbridge.com/pmp/online... • The Project Management Professional (PMP), PMBOK, The Agile Certified Practitioner (PMI-ACP), and The Professional in Business Analysis (PMI-PBA) is a registered mark of the Project Management Institute, Inc. • PMBOK is a registered mark of the Project Management Institute, Inc. • Materials in this video are based on the text, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Sixth Edition, Project Management Institute Inc., 2017. • The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.

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