Creating Realistic and Compelling Budgets
A well-crafted budget tells the story of your project through numbers. It should be realistic, detailed, and directly support your project objectives.
Budget Categories
- Personnel: Salaries, benefits, and consultant fees
- Equipment: Necessary tools and technology
- Supplies: Consumable materials and resources
- Travel: Project-related transportation costs
- Indirect Costs: Administrative overhead expenses
Budget Justification
Every line item in your budget should have a clear justification that explains how it contributes to project success. Reviewers need to understand not just what you're requesting, but why it's necessary.
Cost-Effectiveness
Demonstrate that you've considered alternatives and chosen the most cost-effective approach. This might include using existing resources, partnering with other organizations, or phasing implementation.