2019 - 09 - 12 - The Relationship Between The WBS And Project Budget

Continuing our talk about project management in instructional design today I wanted to share an important connection between the development of a project budget (or at least a budget proposal) and the work breakdown structure (affectionately referred to as the WBS). The key, of course, is to have a very detailed work breakdown structure, properly notated, and then to systematically move through and estimate, price, or get quotes for each item on the work breakdown structure. And as a bonus, I'll share my thoughts on how to include contingency funds in your budget for when the "stuff" hits the fan.