Coming up with the appropriate project and team budgets for the upcoming year can be challenging and time consuming.
- Determining resource needs on new projects can be daunting, particularly if you still have elements of the plan to be worked out.
- It is hard to anticipate unexpected needs that might arise in the later part of the next year, and determine contingency buffers.
- Time it takes to decide investments on training conferences and so on. Engaging team in some of the process does help.
- Evaluating technical tools to purchase is an interesting exercise.
- Negotiating with other managers on common budget items
- Monitor and manage expenses
