How to Create a Project Budget

Is it your first time creating a project budget and you’ve got no idea where to start? In this video, I’m talking all about how to create a project budget that is realistic without it being a total headache.

We’ll talk about:
- What is budget in project management?
- How to create a successful project budget for the first time
- Project budgeting tips that will lead to a successful project
- What is project budget setting and why a project budget is important
- What does the project budget creation process look like?
- How to develop a project budget that guides you through your project
- How to estimate budget for project planning

So, project manager, stay tuned for this whole video to learn all about budget in project management.

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[manuelcruz]

Thank you for sharing your knowledge 💯

[juicebox]

great video, currently studying for my PMP and this cleared a few questions i had around budgeting.

[Chandrikagummaluri]

Very informative and helpful! thank you

[dallas]

I watched the entire webinar. Which I actually enjoyed. But when the free download link appeared and I clicked on it. It never took me to the link to download it.

[sudattdave]

Hey Adriana, Great work ! I was wondering why are resources not accounted for in the calculation of project cost ? Am i missing anything !?

[timothystudlo]

Thanks for all those wonderful budget tips, this video is Gold. Numbers have never really been my thing, I feel like I have a better understanding of budgeting a project now after this video, or at least the different kinds of costs that need to be considered. What is your take on if you come to the end of the project and you have money left over? Is it better to find something to spend the money on that can add extra value to the project, reallocate the money to another part of the project, or bring the under-budget leftovers back to the steering committee to decide what to do with the leftovers with suggestions. In my little experience in dealing with finances whenever my team was allocated money to spend, there would always be this big rush towards the end of the year to spend it. This type of rushed spending always resulted in poorly executed purchases or products that weren't used. It feels like if you don't spend the money you truly do lose it. It seems like you get punished for coming in under budget. Happy to know your thoughts. Thanks.

[kamalnaghili]

Dear Adriana,

I admire your insightful content and expertise in project management. As I pursue a career in this field, I would greatly appreciate your guidance. Could we connect to discuss my aspirations and seek your valuable advice? Thank you for considering my request.

Best regards,
Kamal Naghili

[paulapoblete]

Hi Adriana, do yoi have 1:1 sessions. I would love to explore a BA-> PM transition.

[kiwifrenchie]

1. Define the scope of project.( understand the details )
2. Identify direct and indirect cost.
( renewal subscription fee, maintenance fee )
3. Identify contingency cost.
( unexpected risk causing cost )
4. Determine budget format.
( talk to sponsors and financial person )
5. Allocate budget.
( different tasks needs different budgets )
6. Monitor and manage the budget.
( track every expense )

[nbsonlm]

I did not receive a free "why my projects struggling?"

[easternhealingarts]

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