Write your project budget
One of the last stages of planning is to work out your budget. It is only once you have decided all the resources you require and for how long you need them, that you’ll be able to write down an accurate budget. We’ve provided some tips below:
• Be as accurate as you can with your costings.
• If you’re going to need equipment, research the costs and look around for the best deals.
• For salary costs, remember to include related costs such as National Insurance.
Tip: Involve your treasurer or finance officer in the financial planning. They can also be present if a funder has indicated they will be calling you to help you answer budget and finance questions, if you think that would be helpful.
10. Don’t forget about monitoring your project
Think about what signs (sometimes called ‘indicators’) will show that you are making those differences. What changes in the participants behaviour, attitude, relationships or environment will you look for to show you are making progress towards or are achieving the differences that you set out to?
Think about what tools or methods you will use to collect information to show whether the difference is being made. You don’t have to design a new set of tools, learn new methods or purchase a sophisticated measurement system. Often, you may simply need to add some focused questions about these differences to tools you are already planning to use, such as staff observation sheets or one-to-one interviews with attendees.
It’s important to start measuring the difference you are making as soon as your project begins, and take time to reflect regularly on the information you collect. This will help you understand how far along, and what changes may be needed as you go along to improve the difference you make.
Tip: Remember, if your project is already running, whether funded by us previously or by another funder, then you should have been able to measure its success so far and be able to tell us what difference it has made to the children and young people using the project. We have a question on our form which gives you the chance to provide this information.
Come back next week to the last Planning Your Project tips and hints article.