Three things your budget should include are: (1) your estimated and actual costs, (2) your time schedule, and (3) personal and physical resources needed. In Step 8 we established a schedule. Now we can easily add personal and physical resources by simply adding the initials of those assigned to carry out each task, and also a code number for the physical resources required (equipment, tools, etc.). Knowing who is performing each task, their dollar rate, and the number of hours spent, you can create an estimated monthly budget as shown in the illustration. You can also record actual expenses and with that information record any variances. Thus, this one piece of paper is your master plan for it tells you what is to be done, when it is to be done, who is to do it, and how much it is expected to cost. Further, you have not only the planned start and end date for each task, but also the actual start and end dates which gives an idea of the accuracy of your scheduling. Then, finally, you have estimated budget, actual expenditures, and the variance—information to indicate your accuracy in forecasting. The intent of your budget is to provide a simple tool to help you keep track or and allocate your resources in the most effective and efficient way.