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Money is usually the biggest constraint for any project. If there is unlimited budget, testing and prototyping becomes a trial and error with little need for efficiency or finantial planning. However, most do have a spending limit, and managing it becomes the number one limiting factor for the project.

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Understanding how expensive things are and the importance of keeping expenses to a minimum is crutial for a project’s finantial success. Most projects go overbudget due to the belief that things will go well, on time and with no struggles.

Let’s start by categorizing expenditure into buckets:

• Critical Expenses - Those required for the project’s success and without these parts/components/other the project will not work.
• Improvement Expenses - Those related to new updates, features or overall improvement of the quality of the project.
• R&D Expenses - Expenditure related to exploring new technology and possiblities of future development.
• Team Expenses - Related to the team in some way or another.

Of course, critical expenses should be prioritized, with the rest going to improvement and R&D.