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Should I include a project budget in my concept note?

Include a budget in your concept note only if required by the donor at this stage. You will need to conduct detailed background research and in-depth analysis of the inputs and resources required to implement the program activities to gauge the costs. If including a budget as per the donor template or your own, always add the word ‘tentative’ or ‘preliminary’ to the budget at this stage, as many additional costs may come into the picture or many might be modified at the later stages of detailing this out into a proposal. Make sure you account for all the costs throughout the project life cycle and also take inflation and aspects like salary hikes, etc. into account.

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