Rudy Warnock is an accomplished civil engineering executive based in Jackson Mississippi, with close to two decades of experience in the industry. Currently, Rudy Warnock is the owner of Warnock & Associates, LLC, a civil engineering company. Among his other duties, Mr. Warnock oversees budgeting for the company’s projects.
When it comes to project budgeting, there are several major categories to consider. First among them is the human resources category, which includes salaries for all employees and temporary workers involved in the project’s delivery. As both permanent and temporary employees may need to travel in order to complete specific project tasks, travel expenses should also be factored into any human resource cost planning.
In cases where one or more members of a project team needs additional training, the budget planner should also include training expenses and any associated costs into the project budget. These expenses can often include fees for conferences and workshops.
A project’s budget should also include any costs for materials that may be needed to implement the work required. This includes the tools, software for computers and machines, equipment, and any other sector-specific inputs. Capital expenditures, such as equipment upgrades, should also be included among the items in this category.
If a project requires extensive research before it starts, the budget should include expenses in that category as well. Professional services, such as those delivered by consultants or lawyers, may also be needed. Finally, every project budget should contain a contingency reserve category to account for unanticipated costs. These funds increase flexibility and lower the risk of overruns.
Rudy Warnock 