ENGINEERING
Defining the Foundation
Budgeting and Resource Planning
Plan for the resources, funding, and tools needed to support your team and product development. A well-thought-out budget helps avoid surprises and ensures smooth operations.
Why it's Important
Ensures efficient allocation of resources.
Builds confidence with stakeholders and investors.
Prevents bottlenecks caused by insufficient funding or tools.
How to Implement
Estimate costs for team salaries, infrastructure, tools, and contingencies.
Research similar projects or consult with experts to create realistic projections.
Use budget tracking software to keep a record of expenses and allocations.
Identify potential funding gaps and create a strategy to address them.
Build flexibility into your budget to adapt to unforeseen challenges.
Available Workshops
Budgeting Breakdown Session: Work with key stakeholders to break down expenses by category.
Scenario Planning: Explore best-case, worst-case, and most-likely budget scenarios to prepare for uncertainty.
Tool Prioritization Exercise: Assess which tools and services are essential versus optional.
Cost-Benefit Analysis Workshop: Evaluate the ROI of different tools and resources.
Resource Allocation Exercise: Assign budgets to key priorities using a collaborative process.
Contingency Planning Session: Develop strategies for handling unexpected costs or delays.
Deliverables
Detailed budget plan with cost breakdowns.
Funding strategy to cover any gaps.
Resource allocation map for team and tools.
Budget monitoring process or tool implementation.
How to Measure
Track actual spending versus budgeted amounts.
Assess the impact of spending on progress and milestones.
Monitor team satisfaction with available tools and resources.
Real-World Examples
Trello
Used a lean budget during its prototype phase to validate the idea.
Canva
Focused on affordable tools and resources to grow sustainably.
Zoom
Invested in scalable infrastructure to handle rapid growth efficiently.
Get It Right
Start small and scale spending as progress is validated.
Regularly review and adjust the budget as needed.
Focus on high-impact spending, especially in the early stages.
Use software to track expenses in real-time.
Involve finance experts or advisors for accuracy.
Don't Make These Mistakes
Overcommitting resources to unnecessary tools.
Underestimating the cost of infrastructure or hiring.
Ignoring the need for a contingency fund.
Forgetting to revisit and update the budget regularly.
Failing to balance cost-cutting with team efficiency and satisfaction.
Provided courtesy of Tricia Ballad, Tech Leader
Disentangled Tech