Project Budget

The Project Budget in the construction industry refers to the comprehensive financial plan that outlines the expected costs associated with completing a construction project. This budget includes direct costs like labor and materials, indirect costs such as overhead, and a contingency allowance for unforeseen expenses. The project budget is crucial for financial planning, providing a framework for cost control and ensuring that the project remains financially viable from start to finish. Effective budgeting is essential for managing expenditures, securing funding, and achieving project objectives within the allocated financial resources.