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The objective of developing a budget in the project cost template is to capture resource needs, risks and assumptions and provide a high level cost range for a project over multiple fiscal years. In addition, it helps a project manager identify all resources that are needed on the project both by resource type (QA Analyst, Developer, etc.).  It also allows a project manager to document assumptions and estimates for ongoing support and maintenance.

What to Include:

IS&T Project Cost Template must include:

• List of Resources (Internal & External)
• Estimated Hours on Project for each Resource
• Estimated Other Costs (Hardware, Software,Etc.)
• Estimated Ongoing Support

To get more information about the IS&T budget process, please visit the IS&T Finance wiki: IS&T Finance Support Team

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