Project Budgeting:

The flowchart below gives a detailed flow of the budgeting process we have planned:

Set an objective Identify the Measure how much

and align your resources required the cost is effective
strategies with the cost by caclulating the
accordingly associated with it ROI

Get it reviewed and

Prepare the work
approved fom all Constantly monitor
plan based on the
the team members the budget
budget decided

Budget closure Budget audit

Budget covers a lot of aspects:

• Managing the program

• Managing the data

• Annual/Monthly/Quarterly Reporting

• Communications
The total cost for these tasks needs to be calculated effectively. Constant budget evaluation
needs to be done and compared with other feasible options. The major costs savings is then
determined from the reports prepared.

A cost estimate or a forecast hardly aligns with the real cost involved during the project's
implementation. Therefore, the goal should be to make the best effort when budgeting to
include all the planned costs. But, in the budgeting process, the big obstacle is the unknowns.
To have 10 percent of the entire project cost set aside for emergencies is always better
decision. The most critical aspect is to always keep a good track of all the expenses and their
consistency with the budget. This approach enables us to streamline the whole project and
helps us to know if additional costs that are needed.