Drawing up a Project Budget

Topic: Project Management

With the commencement of any project, it is essential to have a significant proportion of resources in place that can be mobilized whenever necessary.

This 2-part module cover the key methods you need to estimate your project budget, spread it over time and manage it effectively.

Part A Learning objectives:

The key concepts of project budget construction will be addressed through a real-life role-play. Gain an insight into the step-by-step phases through videos and quizzes:

  • Which are the key concepts of a project budget.
  • To identify the different elements of a project budget.
  • What are the differences between estimation, budget and budgeting.
  • How to adapt estimation methods to the project phase.

Part B Learning objectives:

Similarly, there will be a real-life role-play of a project budget control. Explanatory videos, interactive activities and quizzes are used to relate to day-to-day context:

  • What is project budgeting.
  • How to create a budget consumption forecast curve.
  • Keeping control of the project budget.
  • Revising the budget on the basis of “customer” decisions.

Watch preview video here:

Learning outcomes:

  • Ability to structure your budget via a series techniques and producing a robust initial estimation.
  • A five-step budgeting process – spread your budget over time, anticipate budgetary discrepancies and budget revision whenever necessary.

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