Project Concept and Budget

Abstract: As the largest donor, The European Union has invested over 610 million in grants in our country, and this paper analyzes the importance of proper conception and project budgeting. The importance of drafting a good concept is pointed out, because it is the first point of contact of the one who evaluates the project proposal, and based on it, to a large extent, forms an opinion about it. A good concept is a prerequisite for a successful project, its implementation and sustainability. We also analyze that the basis for a good budget is obtained after collecting data on the prices of products or services that we plan to use during the project implementation. This is particularly important given that unrealistic costing is one of the leading reasons for rejecting project proposals. In the final part of the paper, we explain why we should be guided by the idea that long-term and successful donor relationships are based solely on truthfulness and trust, and that losing trust means losing reputation, which no serious applicant wants.

Key words: project, analysis, concept, design, budget

JEL code: A1