Project budgeting determines the entire sum of money allocated for the project to use. The project budget has been estimated by the project manager and/or the project management group. The budget is a forecast of all the costs estimated to be incurred to complete the project.
The project's timetable and budget are established by the scope document, thus it must be carefully crafted. It can take a while to complete this process, but it will be worthwhile once you have a scope document that has been authorized and is accurate.
The three categories of annual government budgets based on estimates are surplus, balanced, and deficit..
The budget establishes the costs for each work piece, each level of the work breakdown structure (WBS), and the overall project cost. These plans can be compared to actual performance to assess how well the project is coming along or how well it has been completed.
To learn more about budgeting projects refer to:
https://brainly.com/question/26479274
#SPJ4
