Final answer:
When creating a project budget, consider fixed costs, variable costs, and financial contingencies for accurate planning and financial management.
Explanation:
Cost Considerations for Project Budgeting
When creating a project budget, it's important to consider various costs to ensure accurate planning and financial management:
- Fixed Costs: Expenses that remain constant, like rent for facilities.
- Variable Costs: Expenses directly tied to production, such as raw materials.
- Financial Contingencies: Budget contingencies to account for the risk of overspending.
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