What is the process by which a project budget is developed and agreed?

Before a budget is developed, a design needs to be in place. This means that the designer will have gone through the brief with the client, discussed all expectations and vision of the project and gradually developed a scheme that can be evaluated. The Quantity Surveyor or designer would then look into the cost estimate to build the proposed scheme as prepared and present the first draft. If the estimate is well beyond of what the client had in mind for the project budget prior to any proposals, the design would be revisited in an effort to bring it closer to the envisaged budget.

The process also includes potential consultations & stakeholder management procurement strategy.

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