How to Create a Project Budget

[@AdrianaGirdler]

Thanks for watching. 🌟 Don't forget to sign up for my Free Online Training and learn THE FAB FIVE FUNDAMENTALS OF PROJECT MANAGEMENT. Click here to register: www.slayprojectmanagement.com/webinar

[@kiwifrenchie6036]

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 )

[@AdrianaGirdler]

Thanks for watching and taking the time to comment. Cheers!

[@kiwifrenchie6036]

@@AdrianaGirdler I like brief on point videos

[@juicebox069]

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

[@AdrianaGirdler]

I am thrilled this video cleared up the questions you had. Wishing you all the best and thanks for watching, cheers!

[@Chandrikagummaluri]

Very informative and helpful! thank you

[@AdrianaGirdler]

You're very welcome! Thanks for watching, cheers!

[@dallas20001]

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.

[@andrewnyuan]

Insightful. Thank you Adriana!

[@AdrianaGirdler]

You're so welcome! Thanks for watching, cheers!

[@AtangaAtungmbiComfort-tz8bc]

True very helpful to some of us

[@AdrianaGirdler]

Glad it was helpful. Thanks for watching, cheers!

[@ham472]

Thank you for the video 🙂

[@AdrianaGirdler]

You’re welcome 😊 Thanks for watching, cheers!

[@manuelcruz2256]

Thank you for sharing your knowledge 💯

[@AdrianaGirdler]

You're most welcome! Thanks for watching, cheers!

[@sudattdave]

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

[@AdrianaGirdler]

Hi @sudattdave. Resources can be a person, team or tool as you know and these should be assessed and allocated before a project begins within your Scope Statement. Once you know what will be in scope and out of scope you will be able to start allocating a budget to each item, team, tool etc. Hope this helps. Check out this video I have on the 6 Major Scope Statement mistakes to avoid. kzbin.info/www/bejne/d4naoqJ3mJyYqcU Thanks for watching, cheers!

[@timothystudlo4779]

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.

[@AdrianaGirdler]

I am so pleased that you found this video so helpful! Come and join the waitlist to be one of the first to access my new program SLAY Academy. It will feature an online curriculum and weekly live calls with me!!! www.cornerstonedynamics.com/slay-academy-waitlist/ Wishing you all the best, cheers!

[@igweesther1488]

Insightful

[@nagmasayyed9316]

Great explaination

[@AtangaAtungmbiComfort-tz8bc]

Thanks l am with you ma 😊

[@AdrianaGirdler]

Welcome 😊 Thanks for watching, cheers!

[@markgraham3667]

Great video, very pertinent

[@AdrianaGirdler]

Glad you enjoyed it! Thanks for watching, cheers!

[@Arhinful79]

Very intellectual

[@paulapoblete1090]

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

[@AdrianaGirdler]

Hi @paulapoblete, I do have a new program that will be launched shortly called SLAY Academy! Not only does it feature an amazing online curriculum but also weekly live calls with myself! Join the waitlist today to be one of the first to access this new coaching program www.cornerstonedynamics.com/slay-academy-waitlist/ Thanks for watching, cheers!

[@YonceNShelle]

Thank u so michhhhh

[@AdrianaGirdler]

You're welcome! Thanks for watching, cheers!

[@kamalnaghili8154]

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

[@AdrianaGirdler]

Hi Kamal, I will be launching a new program called SLAY Academy this coming September. It will feature an online curriculum and weekly live calls with myself! The wait list is now open and you can sign up here www.cornerstonedynamics.com/slay-academy-waitlist/ In the meantime I have a free Webinar that you can check out! In this free training I walk you through the five key items needed on all projects, it's what I call the FAB FIVE FUNDAMENTALS OF PROJECT MANAGEMENT. The FAB FIVE are the 5 key items that you must do on every project - if you only do 5 things, these are them! It’s a great way to simplify projects, while still doing the essentials needed to ensure project success. Save your seat here: www.slayprojectmanagement.com/webinar Cheers!

[@warispirzada9546]

Very productive

[@jayzed4282]

8 minutes of bla bla bla bla

[@KarolineFavrettoBrown]

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

[@AdrianaGirdler]

@user-nb2so2nl5m have a look in your junk folder to see if has ended up there. In the mean time here is the link again, www.slayprojectmanagement.com/freebie?KZbin&