So let’s consider the other scenario – the scenario where a project manager engages a customer (internal or external) and initiates the entire engagement with them. In this type of situation, still many project managers are inclined to start with the budget first, but that can be a dangerous way to start the planning and estimating portion of the project. Why? Because time is money and everything that goes into the project schedule – every single task, every expensive resource assignment, every deliverable review process and signoff…everything – will cost money and that will affect the budget. That’s why I say, schedule first, then budget.