Budget Planning
Budget planning is a financial management methodology that involves creating a detailed plan for allocating resources, typically money, over a specific period to achieve organizational or project goals. It includes forecasting income and expenses, setting spending limits, and tracking actual performance against the plan. In software development, this often applies to project budgets, team resources, or operational costs.
Developers should learn budget planning to effectively manage project resources, avoid cost overruns, and align technical decisions with financial constraints, especially in roles involving project management or startup environments. It is crucial for scenarios like estimating development costs, optimizing cloud infrastructure spending, or securing funding for tech initiatives.