A budget and work plan template
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Shows project value and impact: Budget proposals are a great way to give your stakeholders an idea of how the project will provide value for your organization and to the outside world. In a similar fashion, seeing the project budget connects stakeholders to the internal work process. Project transparency increases team productivity because it shows team members how their work connects to the larger picture. A clear budget proposal can help your team and others involved in the following ways:Ĭreates financial transparency: A budget proposal offers transparency by making finances an open topic of conversation as soon as you develop a project idea. Free budget proposal template What are the benefits of using a budget proposal?Ī budget proposal breaks down the expenses you’ll incur during project execution. However, you can also use budget proposals at the company or campaign level.
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In this article, we cover how to draft a budget proposal for a project. Other expenses may include training, taxes, and other unexpected or variable fees. Travel and other expenses: A project may require travel expenses if clients or customers are involved. However, because these items are unique in nature, they get their own section in the budget proposal. Indirect costs are typically expenses like utilities, insurance, IT services, and server fees.Įquipment and materials: The equipment and materials section is actually a sub-category of direct costs because these are physical items you’ll need specifically for the project in question. These items may help you run your project, but they may also help run the entire company. Indirect costs: Indirect costs don’t relate directly to the project in question. These can include labor costs, team member hours, software, and the cost of specific project activities. The costs you include in your budget proposal will likely fall into four categories:ĭirect costs: Direct costs are expenses directly related to the project in question. This shows stakeholders the benefits and/or drawbacks of getting involved. Your budget proposal breaks down the cost elements associated with your project. What is a budget proposal?Ī budget proposal summarizes the estimated costs for an upcoming project in order to secure funding from project stakeholders. Then, use our free template to get started. A strong project budget proposal can be the deciding factor in whether your project initiative becomes a reality or needs to go back to the drawing board. In this article, we’ll cover how to create a detailed budget proposal. Keep in mind that stakeholders will look closely at your projected expenses because the benefits of the project must outweigh the costs. This means researching your project idea and planning ahead. To get your budget approved, you need to present your budget proposal to others in the best light. While your team members can create the deliverables, projects often can’t move forward without funding-which requires approval. When you have an idea for a new project, you’ll need the right people on board to bring it to life. Learn how to create a detailed budget proposal using our free template. You can also use budget proposals on the company or campaign level. You need to create a complex work plan for a very large project that has many different teams involved (in this case you may need to use project management software such as Microsoft Project, Basecamp or their free alternatives).A budget proposal summarizes the estimated costs for an upcoming project in order to secure funding from project stakeholders.The donor has given you a template for the work plan (you should use their template).These work plan templates are NOT appropriate when: The donor has not given you a template for the work plan.You need to create a simple work plan for monitoring a new project.You need to create a simple work plan for a proposal.These work plan templates are appropriate when: If your work plan is very large it may be easier to copy and paste it as a picture. This can be done by copying and pasting the table from Excel into Word. Once your work plan is complete you may need to insert it into a Word document.
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This zip file includes Excel work plan templates by day, week, month and quarter (see screen shot below), and one completed example. Once your project has started the work plan is used as a monitoring tool to check whether your project is on-track.
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Donors normally require you to submit a work plan as part of a proposal. Work plans (often shown as Gantt charts) show all the tasks involved in a project, who is responsible for each task, and when the tasks will be completed.