5-2. Types

Creating a Project Budget

The budget is an important component of the planning process discussed under Unit 4.

The budget is a plan that identifies the resources, goals and schedules that allow the organization to achieve its goals.

There are several ways of developing project budgets but we will focus on three here:

  1. Top-down budgeting
  2. Bottom-up budgeting
  3. Activity-Based Costing