Description: The project budget is the total amount of money allocated for a specific project, which includes all necessary costs to carry out the planned activities. This budget is developed at the beginning of the project and serves as a financial control tool throughout its execution. A well-structured budget not only considers direct costs, such as materials and labor, but also indirect costs, such as overhead and contingencies. Budget management is crucial to ensure that the project remains within the established financial limits, avoiding cost overruns that could compromise its viability. Additionally, the budget serves as a reference framework for decision-making, allowing project managers to assess progress and make adjustments when necessary. Transparency in the development and monitoring of the budget is also essential to maintain stakeholder trust and ensure accountability. In summary, the project budget is a key component of project management, enabling effective planning, execution, and control of financial resources.
