| Definition |
Budget is a project cost or earned-value concept used to estimate, budget, measure, or forecast project performance. It supports financial control by connecting planned work, completed work, actual spending, and expected completion outcomes.
Budget is a concept used to plan, explain, support, or measure organizational change. In Change Management, it gives practitioners and stakeholders shared language for moving from a current state to a desired future state.
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| Context & Usage |
Project managers, sponsors, and project-controls staff use this concept in budget reviews, performance reporting, forecasting, and variance conversations.
Related concepts include Cost Baseline, Planned Value, Earned Value, Actual Cost, Cost Variance and Schedule Variance.
Practitioners use this concept to plan communication, sponsorship, readiness, adoption, and reinforcement activities around an organizational change.
Related concepts include Change Management and Stakeholder Engagement.
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