Project Management

3 Ways to Create a Project Budget [Video]

From the The Money Files Blog
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A blog that looks at all aspects of project and program finances from budgets, estimating and accounting to getting a pay rise and managing contracts. Written by Elizabeth Harrin from GirlsGuideToPM.com.

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Categories: budget


create a project budget

My favourite way of creating a project budget is to first ask how much money I’ve got, and then go from there :)

I know it’s not the best way – or even the most ‘project management-y’ way – but sometimes it’s worth cutting to the bottom line and using that as a starting point. What a waste of time costing out a project beautifully only to have executives tell you to try again, and make the number 50% less. Let’s just start with where we are supposed to end up!

However, that’s only one way to create a budget, and, as I say, is hardly best practice. In this short video, we’ll look at 3 more reliable ways to build out your project costs so you can establish how much your project budget will be overall.

For more background on how to create a project budget, this article will help you get your thoughts together before you dive in.

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create a project budget

Posted on: August 14, 2019 08:59 AM | Permalink

Comments (4)

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A great, brief and useful video presentation.

A great, brief and useful video presentation.

Amazing read, thanks for sharing

I love the video, its pretty concise. To sum for everyone:

1-Bottom up: Write down everything the budget.
2-Comparative: Check similar projects to estimate
3:Expert opinion : Ask someone else who knows.

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