Property Management (Essay Sample)

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Assessment type: Property management
There are various things that a manager has to look while constructing a budget for an organization or a project. The primary function of the manager is to understand and implement the objectives and for that manager need a budgeting plan CITATION DCM11 \l 1033 (DCMR, 2011). The budget not only function as the means of resource mobilization but also plays an important part in economic management CITATION Egb14 \l 1033 (Egbide, Sola, & Francis, 2014). The budget management revolves around certain steps that ensure how organization will perform in coming months, this helps organization to set their plans and work accordingly. There are various aspect that can be look at while declaring a budget and some of the questions that are necessary to answer are as under.
* The most important thing that an organization must look at is their previous track record and how their budget was carried out. Consider a possibility that if an organization is small and planning a budget then it is better to plan budget quarterly than yearly. The reason for this is that small organization are likely to face problems in between so taking smaller steps or budgeting quarterly will be a good approach to take, but if am a manager of a larger organization then yearly budgeting will be a good approach to take.
The second and the most important question that comes to mind is that what are the assets of budgets that I would like to carried out in my budgeting scheme. There are various important and miscellaneous expenses that I would like to add and some of them are as under.
* The first most important part of designing budgeting scheme is that how much revenue that particular project will generate. This will help integrate further budgeting policies into overall expenses CITATION gre14 \l 1033 (greenefficient, 2014). This process can be done by looking at below mentioned budgeting steps.
* The second most important budgeting factor that I would like to add is the operational income including taxes and relevant insurance payments. This will help clarify things to take further decision on the budget.
* Miscellaneous plays important part in designating a full budget so keeping the point in mind that there will be miscellaneous or small expenses that can comes, these expenses can be towards the employee or the construction.
* The property that is going to be constructed will be paid via mortgage or direct payment? This question depend on the size of organization so it plays an important part in defining a full fledge budget.
* The fifth part will be to potential reimbursement and credit losses that can come during the process. This will help ensure that how organization is going to get from overall project. Combining above factor together with these, manager can identify what will be the gross income of the project....