BUDGET PLAN DEFINITION
The budgeting plan and processes are crucial for any project in order to keep track of expenditure and income. They serve as a monitoring and controlling method in order to manage the remuneration, finances, revenues versus costs. The process begins by deciding upon the financial goals according to which the budget will be made.
With your Mentor, review and assess the intended project impact using the 25 criteria of Positive Impact. You will rate each strategic goal on its potential impact for achieving its associated objective. You will produce a project potential Social Value Score according to these ratings. This provides an indication of the marketing value of the project to clients or customers.
The Project Leaders can now review the project value from Step 1. Using the 25 criteria of Positive Impact, the committee will identify the revenue channels and client/customer needs. Based on this analysis they can identify the product/services ranges required to meet those needs.