What Is The Difference Between Cost And Budget With Respect To Project(s) Wise?


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Jan answered
Costs are an element of a budget.  A budget projects the inflows and outflows of your project, and may be created for manpower, supplies, dollars, hours, and so on.
Cost generally refers to dollar amounts, but not necessarily.  Supplies, in dollars, could be a budgeted cost of a project.  Or a project could cost you a number of man hours.  Or it could cost you certain opportunities.  Cost is essentially what you give up/use up to achieve your goal.

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