Effective Budget Development

When developing a budget that is effective you must make sure that all of your bases are covered. Although this is not an exhaustive list this will help you see the key factors that you need to consider when developing an effective budget. You must:

  1. Manage expectations and acknowledge that change is inevitable.
  2. Establish a solid base of needs documented in the facility program.
  3. Study as many sites and building alternatives as possible within the context of the campus.
  4. Create a well-defined schedule for the project.
  5. Make sure that the budget is accepted by all members of the project team.
  6. Establish clear responsibilities among those involved for adhering to a budget that is consistent with and supportive of the facility program.
  7. Focus on the process, from the initial stages to the end, as a team effort.