Budegeting stuff

 Budgeting 

Overview:
A total projected cost over a defined period of time.

Why
It determines the overall direction, before agreeing all parties, (stake holders)

sustainable aspect of a budget (bringing some money back in)
a measure of performance
time
Return on investment (what the return on investing in the project) (for stakeholders)


Income: Expense:


It might not be financial but labour intensive.

Breaking down the different elements
what you need, breaking down what you will need to hire and get to make the project
(people, materials)

Researching funding.
what funding avenues for a project (Companies to apply a fund for)

Breakdown of Hours: (estimate on time)
Labour
Materials


Tracking Budgeting:



Types:
Analogous estimating
- amylase an already completed budget
-

Parametric estimating:
- Historical data to estimate your project scope
- using similar projects to estimate the cost of your own project

Top down method:
- Projecting the cost through analysing the research
- judging by how much each projects costs
- looking at the project budget and calculating the variables in the project,
- 

Bottom up method:
- Divides the project into multiple parts, and calculate the estimate, for each section.
- at minimum try to pay the living cost (if possible)


Three Point estimate:

- three different calculations
- What it will probably cost
- What budget i have
- what it actually cost in the end

Tracking Expenses:
Pre approve all expenses of employees
Keep Receipts
Track weekly expenses against budget




Stages:

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