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3 Tips for Creating Compelling Project Budgets

Writer's picture: Bria  ArlineBria Arline

Updated: Sep 23, 2024

The budget is one of the most important elements of your grant application. 


Not only is it the point of your proposal (you are asking for money, after all), but if your budget is illogical or does not line up with your narrative, your proposal will be thrown out. 


But all too often, proposals only give vague numbers or rough estimates instead of a detailed budget and narrative.


A strong budget will give reviewers every reason to champion your proposal. Following are three tips to help you create a compelling budget and budget narrative. 


1. Create Your Budget First




Knowing what you want to accomplish and how much you need to meet your goals will help you marry your narrative and your budget together. 


Doing the budget first will also give you time for multiple revisions and inevitable questions and give you a chance to incorporate all the costs of the project (including indirect costs). 


2. Tie Your Budget Narrative to Your Program Objectives


The funder is considering every line item of your budget. 


Justify your numbers by clearly outlining why each expense is necessary to achieve the objectives that are dear to you and the funder. 


For example, instead of writing, “The Program Manager will spend 100 hours on the project”, you can say, “The Program Manager will spend 100 hours providing case management to the participants enrolled in the program, helping them secure entry-level employment. 


3. Make Sure Your Budget Makes Sense Compared to Your Organizational Budget


If your project budget is disproportionate to your organizational budget, this will raise a red flag for the funder.


Think about the projects you want to pursue at the beginning of the year. If your project is a significant expense compared to your typical annual budget, make sure you explain to the funder why you will be able to sustain the program after grant dollars are used. 



Conclusion


Like all aspects of grants, an effective grant budget starts with an effective grant strategy. Planning your project and its expenses early on will help you create a compelling budget. 


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Do you need a team of skilled professionals to help you secure grant funding? Reach out to us today for a free consultation.

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