A project budget is a financial blueprint of the total estimated costs needed to complete a project over a defined period. Read the infographic for more info.
A project budget is a comprehensive financial plan that outlines the expected costs of all activities and resources required to complete a project successfully over a defined period. It encompasses various types of expenses including direct, indirect, operational, procurement, and miscellaneous costs.
With a meticulously planned budget, managers can ensure the project is executed within the stipulated financial constraints. Moreover, it serves as a proactive mechanism to implement corrective measures if discrepancies arise, thereby preventing budget overruns.
