Organizing Project Management Step 2: Budgeting
Welcome to Step 2 in our Organizing Project Management series! This series is designed specifically to help you learn how to manage large organizing projects.
If you haven’t yet had a chance to check out Step 1: Planning, you can find it on our blog.
Now, it’s time for Step 2: Budgeting
For large and complex organizing projects, clients will want to know the expected costs up front. If you are managing a large organizing project, you will certainly need to create a proposal or estimate for the client. In order to estimate the cost, you will need to create a budget.
Here are the three main things you’ll need to factor in when creating a budget:
- What does your time include? Are you just coordinating, are you going to be working onsite? You time can include any or all of the following: coordination, research, shopping, communication, supervising and hands-on organizing.
- What are the other costs involved? Are you bringing in a team of organizers, will you need outside vendors (junk removal, handyman, movers, etc.)? Be sure to get specific quotes from your vendors. Also, make sure you have all the cost contingencies. For example, a dumpster may cost $300, but there is often an additional per-pound charge for disposal, as well as costs for disposing of items such as mattresses or TVs. Movers charge by the hour, but who is supplying the boxes?
- How much of the project will the client be assisting with? Take into consideration any client resources (such as friends and family) for both labor and other services. You never know. We once had a client whose cousin owned a metal scrap yard and picked up everything for free!
Once you have the budget put together, you will need to:
- Provide your client with a thorough breakdown of costs and review the budget with them before starting the project.
- Get client to sign off on budget. This is important! You want to make sure they are clear on and agree to the costs upfront, so there are no surprises and no disappointment.
Follow these steps and you’ll have an accurate budget for your organizing project!
Stay tuned for Step 3: Coordinating
Want to learn it all now? Download our e-course: Clients 301: Organizing Project Management and learn everything you need to know to become an awesome project manager!
