NAV Budgeting: Why Contingency Planning Should Be More Than a Formality

I've seen a few projects where customers said they didn't need a contingency plan, because they decided to adjust the budget as changes occurred.

While this may sound reasonable at first glance, it ignores the fact that there is an important distinction between adjusting the budget based on change requests and consuming the contingency reserve.

Let's start with the project budget. After most planning activities have been completed, after all project activities have been defined and estimated, and after the resources have been assigned to the activities, you create the project budget.

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About Vjekoslav Babic

Vjekoslav Babić is an independent Microsoft Dynamics NAV consultant, trainer, author and blogger, with 10 years of experience in NAV and 16 years of experience in IT.

As a solutions architect and a project manager with a leading Microsoft Dynamics President's Club service provider company, as a Microsoft Dynamics NAV consultant with Microsoft Services, and as an independent consultant, he has been working on Microsoft Dynamics NAV implementations ranging from tiny one-man-bands to international mega-corporations, delivering services and trainings all over the world.

In 2008, Vjekoslav co-authored the acclaimed book "Implementing Microsoft Dynamics NAV 2009". Vjekoslav runs an active blog about NAV implementation, project management and development best practices, acts as a columnist and editorial advisory board member at MSDynamicsWorld.com, and as a columnist in a number of other web or printed periodicals in Croatia and worldwide. Vjekoslav is also a frequent speaker at Microsoft or Microsoft Dynamics conferences.

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