this question is related to planning and project controls.
2006-06-20 01:02:00 · 6 answers · asked by haftepeek 1 in Science & Mathematics ➔ Engineering
Buget is the pack of lies you tell upper management about how much money you say a project will cost.
Cost is actually the amount the project ended up costing. Usually this number is much higher than the Buget number and therefore you get fired.
2006-06-20 03:40:24 · answer #1 · answered by truckee_dark 2 · 2⤊ 1⤋
Budget = what you project you will need to spend.
Cost = what you actually spend
One of the key uses of a budget to control costs in a project is to charge any cost against the budget as the commitment is made, not when the bill is paid. That way it is always up to date and not lagging behind.
2006-06-20 09:11:19 · answer #2 · answered by oil field trash 7 · 0⤊ 0⤋
Don't know what a budjet is but a budget is what you think it will cost before you start.
The cost is the thing you have to explain after you've finished.
If you can't spell budget you will have a lot of explaining to do.
2006-06-20 08:15:45 · answer #3 · answered by rsdudm 5 · 0⤊ 0⤋
Budget - what you think something will cost, so you make sure you have enough money on hand. It is like looking at the sticker price of a car and making sure you have enough money in your checking account to pay for it.
Cost - the actual purchase price. When you buy the car, this is the amount you write the check out for. (Usually several hundred more than what you think thanks to some slick calculating by the dealer.)
2006-06-20 08:19:46 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Budget is your estimated expense for an activity or project.
Cost is the actual amount you spent on the activity or project.
2006-06-20 13:07:26 · answer #5 · answered by Jeffrey S 6 · 0⤊ 0⤋
A budget is usually, and imprecisely, assumed to be a sum of money.
A budget is, in fact, a financial plan.
2006-06-20 15:48:32 · answer #6 · answered by dmb06851 7 · 0⤊ 0⤋