How you prepare budget for engineering

Question

Accepted Answer

Preparing a budget for engineering involves analyzing project requirements, estimating costs, and allocating resources.

Analyze project requirements to determine the scope and scale of engineering work
Estimate costs for materials, equipment, labor, and any additional expenses
Consider factors like project timeline, quality standards, and regulatory requirements
Allocate resources effectively to ensure optimal utilization and cost efficiency
Regularly monitor and track expenses to stay within budget constraints
Adjust the budget as needed based on changes in project scope or unforeseen circumstances

Accepted Answer

There are 2 types -1. Revenue means day to day maintenance, utilities and spares budget 2.Capital for projects and expansion  
Budget to be planned as per the financial year production plan and expansion plan.keep 10%contingency.

How you prepare budget for engineering

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