Proper budget preparation - 1

A properly prepared project budget will

• Include a description of the project or phase scope
• Summarize in a preamble, the philosophy, assumptions and parameters used in its preparation

  • Including the procurement strategy
• Be presented in exactly the same way as costs are expected to be recorded

  • First by major deliverable, system or component
  • Then by internal payroll costs, material and equipment
  • Or by contractor, supplier or department

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