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Budgeting Basics
Learn about the basic definitions and concepts used in project budgeting.Preview the first lesson free — get full access to all 5 lessons.
Beginner Provider : Ray Frohnhoefer 5 Lessons · 14m in Arabic, German, English, Spanish, French, Portuguese, Chinese
Course Description
Project budgets are estimates of the funds necessary to complete the project. These funds are needed to pay for resources, the people, equipment, and materials required for a project. These lessons examine the basic concepts and elements of budgets.
What You'll Learn
- Understand the fundamentals of project budgets and how they estimate the funds needed to complete a project
- Define a project budget and identify the resources, people, equipment, and materials it must cover
- Distinguish between capital and operating costs
- Identify the resource needs required for a project
- Apply some of the basic standards used in budgeting, including project cost accounting standards
Key Takeaways
- Project budgets are estimates of the funds necessary to complete a project.
- Budget funds are needed to pay for resources, including the people, equipment, and materials required for a project.
- The course examines the basic concepts and elements of budgets.
- Budgeting distinguishes between capital costs and operating costs.
- The course covers some of the basic standards used in budgeting, including project cost accounting standards.
Frequently Asked Questions
What does this course cover?
It examines the basic concepts and elements of budgets, including defining a project budget, identifying resource needs, capital and operating costs, and project cost accounting standards.
What is a project budget?
A project budget is an estimate of the funds necessary to complete the project, used to pay for resources such as the people, equipment, and materials required for a project.
What will I learn about costs in this course?
You will learn the difference between capital and operating costs.
What lessons are included?
The lessons are Defining a Project Budget, Identifying Resource Needs, Capital and Operating Costs, Project Cost Accounting Standards, and Test Your Knowledge.
Will I become familiar with budgeting standards?
Yes, the course helps you become familiar with some of the basic standards used in budgeting, including project cost accounting standards.
Professional Certifications and Continuing Education Units (CEUs)
Project Management Institute (PMI®)
Professional Development Units (PDUs): 0.25
KnowledgeCity has been reviewed and approved by the PMI® Authorized Training Partner Program. Users can maintain your PMI credentials by earning PDUs from KnowledgeCity qualified courses in Project Management, Business Management, Leadership and many others.
