1. Identify all of the costs convoluted in the project. Label the costs either direct costs project overhead costs or general as well as administrative overhead costs.
2. Grow a time-phased budget for the project. What will be the increasing cost of the project?
3. Recognise areas in the budget where cost cutting can be made if needed?
4. Identify and assess one major as well as one minor risk inherent to the project. Develop a contingency plan for each of these risks.