These can be both the company's projects and projects of other organizations

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Within the project, the company's variable expenses are separately specified, which may change depending on the situation. In product development, these may be costs for testing, marketing, project management, or additional features that will be needed in response to feedback from end users.

For example, if testing reveals that users want a particular feature, that budget line item should be flexible to accommodate the additional development costs.


Methods of forming a project budget
Evaluation by analogy
Analogous valuation is a method that is based on comparing a project with similar projects that have already been completed. For example, if you are planning to launch an online store, you can look at how much it cost to launch an online store in the past.

To estimate the project budget, you should:

Find similar projects. Collect cost data. It is worth studying how much money was spent on various expenses: rent, salaries, equipment, implementation of project activities, etc.
Adjust costs. Even if the projects are similar, you should still consider the uk phone number list unique features of the new project. For example, the scope of the project, the cost of paying the team, or the cost of supplying materials may have changed.
This method takes into account real data, which makes it quite reliable. However, each project is unique, so you need to be careful when citing figures from similar projects.

Expert assessment
This is a budget that is based on the opinion of specialists who have experience working on similar projects. For example, to understand the cost of developing a new product at the very beginning of the project, it is necessary:

Assemble a team of experts. In our example , the product owner , the head of the project or development department of the company, and the project manager can join in creating the project budget . Together, they will be able to collect data , write down the project's expense items, and take risks into account.
Discuss all the nuances of the project. Each expert evaluates the budget, shares their experience and gives recommendations on what costs may arise, how to optimize them better, how to manage the project.
Consider the opinions of experts and draw conclusions. The project budget is never the same for all experts, so it is important to weigh all opinions and decide which expenses to include in the budget.