Lesson 201.3: I can design a coherent Milestone Budget

Lesson Overview

In this lesson, you will assume the role of project manager for a proposal within the Deep Funding ecosystem. Your task is to create a detailed, coherent milestone budget that aligns with Deep Funding's guidelines. This involves planning your project's main actions, estimating resources, and transparently justifying costs.

Lesson Objectives

• Understand the importance of milestones and budgeting in project management.
• Develop the skills to create a realistic, achievable project plan with clear milestones and a justified budget.
• Enhance transparency and accountability in project budget proposals.

The Milestones and Budget are crucial in determining funding allocation and project delivery.

It's important to note that on Deep Funding, you're paid for milestone completed. And your payment only reaches your wallet after you've completed the entire milestone.

This is very important to consider because you need to create your milestones so that you have the necessary funds to deliver them, especially if you need to pay for services or external help.

Understanding Deep Funding Milestone Rules

Review the specific milestone rules on the Deep Funding website for the funding pool your proposal targets. Note any guidelines that must be followed to avoid disqualification.

Project Planning

Break down your hypothetical or actual project idea into main actions and goals. From this, define clear, achievable milestones. Consider the sequence of milestones and how each contributes to the project's objectives.

Budget Estimation

For each milestone, estimate the resources (time, labor, materials) needed and their associated costs. Use market research, quotes, or historical data to back up your cost estimates. Ensure the budget is realistic and provides the necessities to achieve each milestone.

Budget Justification

Prepare a clear justification for each line item in your budget. This should include explanations of cost estimates, the role of team members in achieving milestones, and the reasoning behind the budget allocation. Your goal is to build voter confidence through transparency.

Task

• Compile your milestone descriptions, budget estimations, and justifications into a comprehensive document. This document should follow Deep Funding guidelines and include the following:
• Milestone Name
• Budget for each milestone
• Milestone Description (actions, team roles, cost explanation)
• Milestone Deliverables (specific outcomes like an app, report, or marketing campaign)

Ensure the document meets any character limits or formatting requirements Deep Funding sets.