A budget is an itemized estimate of the costs of producing a project as well as realistic projections of any revenues that might be received from that project.
Specifically, setting a budget involves the following activities:
a. Estimating the expenses of the project
b. Estimating revenues (if any) from the project
c. Estimating the total budget of a project
Continue with the next post, Project Management 4a. Estimating the Expenses of the Project.
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