Question
Please differentiate the following by taking a suitable example:
(i) Project budget
ii) Revised project budget
Answer :
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A project budget is the initial financial plan prepared before the commencement of a construction project. It estimates the total cost required to complete the project based on drawings, specifications, quantities, labor, materials, equipment, overheads, and contingencies. This budget acts as a financial guideline for planning, resource allocation, and control during
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