Creating a Budget (Project Management)

Use template provided to complete assignment. I attached my project so far file so you can have all the details of my project. Also use week reading doc and things to consider file.

In Review: The Project Budget
A project budget is the total projected costs needed to complete a project over a defined period of time. It’s used to estimate what the costs of the project will be for every phase of the project.

The project budget will include such things as labor costs, material procurement costs and operating costs. To help you a bit more, we’ve compiled this document: Things to Consider When Making a Project Budget.pdfPreview the document

Instructions:
Prepare a budget using a template of your choice, or refer to this template Preview the documentas a guide. Select a template based on its appropriateness for your project, also using the research from this week’s course content. Please note – the categories in the provided template may not be appropriate for your particular project. Include categories that make sense for YOUR project – do not simply plug in numbers for the categories provided in the template. They are simply there to help guide you.

After completing the inputs for your budget, write a short narrative (2-3 paragraphs) explaining if your current budget aligns with your initial and what the differences are. If your budget aligns, then share what aspects you used to get to a more accurate estimate.

What process will you take to request more funds (of if the budget is less – what will you do with the extra funding) from your stakeholders?

Your assignment will be graded based on whether it:

Lists the categories of spend
Includes estimating assumptions for costs
Includes costs for each category, by month
Totals rows and columns; ties out the total budget
Shows that labor costs are supported by the project schedule
Includes a short narrative about budgiquet alignment and funds requests

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