Definition
A Project Budget is a detailed plan of the costs and funding sources associated with delivering a particular project, including planned expenditure, reserves and the schedule for using funds.
Human Explanation
It shows how much the project is expected to cost and where the money required to deliver it will come from.
Why it Matters
It supports expenditure control, monitoring of project delivery and assessment of performance against the agreed financial plan.
Conceptual Boundary
A Project Budget is a specialised Budget used in project management. It does not replace the budget of the entire organisation.
Practical Perspective
A sound Project Budget should account for direct and indirect costs, risk reserves, funding Milestones and the method used to account for expenditure.