The tool to manage the Project’s financial aspects.

Definition of the Budgeting

GM&CONSULTING regards the budgeting activities as crucial for the successful performance of any project. A budget will:

• Manage the financial and economic aspects of a project, by planning and monitoring them.
• Forecast the financial results and financial position of the project for one or more future periods/up to its commissioning.
• Performance baseline for the measurement of the actual project results.

Items included in the Budgeting

The following aspects are prepared (and constantly updated) by GM&CONSULTING to formulate the project budget.

• Definition of The Project Objectives - These objectives express the goals of the Business Plan and what a systematic analysis of the data should expose the results.
• Establishing/Updating a Business Plan - that highlights where you stand and where you're going, allows you to create a functional and realistic budget.
• By obtaining and coordinating estimates from/with the several project’s participants.
• Determine/Update Available Funding - Estimating the Project Management funding provides a framework to assist to prioritize its spending and constraints to the necessary investments.
• Allocate for Needs – GM&CONSULTING will list the project’s projected expenses. The project will have to define the most basic and priority operational expenses of its business.
• Adjust for Outside Factors - One of the purposes of a budget is to help you to be responsible and to plan for unexpected events.

• GM&CONSULTING will take advantage of proven budgeting-specific software.
• Based on Interim Reports, GM&CONSULTING will periodically update the project’s budgets to keep them closer to reality, and will alert the foreseen problems in advance, and propose possible financial and management solutions to solve them in due time.