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Budget and Timeline

What is the project budget?

  • Project budget is total cost
  • Includes direct, indirect costs
  • Prevents fund depletion
  • Influences project Scope
  • Determines resource Quality, quantity
  • Prevents cost overruns
  • Identify potential project costs
  • Estimate cost Item quantity
  • Assign price to Items
  • Use various estimating Techniques
  • Monitor, control project costs
  • Track actual vs budgeted costs
  • Take corrective actions
  • Regular budget Reviews
  • Inaccurate estimates are challenges
  • Scope creep increases costs
  • Unexpected costs can occur
  • Mitigate with careful planning

Table of Contents

  1. The Process
    1. Understanding the Concept of Project Budget
    2. Importance of Project Budget in Requirements Engineering
    3. Steps in Determining the Project Budget
    4. Techniques in Estimating Project Budget
    5. Managing the Project Budget
    6. Common Challenges in Project Budgeting
  2. Case Studies
  3. Example
  4. Template
  5. Checklist