The budget is a critical component to any project planning effort. The lack in ability to control expenses will most likely lead to cost overruns and, also, other delays, which could easily have a negative impact on the overall outcome of the project. Without proper planning upfront, you could be venturing into an ugly money pit. It is critical to understand the basics of effective budgeting so that you can actively work together with your project team to ensure the project is on time and on budget.
