Explain why many IT professionals may overlook project expenditure management and the effect this may have on project completion. Explain the budgeting method for the project. What are sunk costs? Provide examples of both typical IT sunk costs and individual sunk costs. Why is it so difficult to disregard them?

Information Technology Project Management
9th Edition
ISBN:9781337101356
Author:Kathy Schwalbe
Publisher:Kathy Schwalbe
Chapter2: The Project Management And Information Technology Context
Section: Chapter Questions
Problem 6DQ: What are the phases in a traditional project life cycle? How does a project life cycle differ from a...
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Explain why many IT professionals may overlook project expenditure management and the effect this may have on project completion. Explain the budgeting method for the project. What are sunk costs? Provide examples of both typical IT sunk costs and individual sunk costs. Why is it so difficult to disregard them?

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