It is important to ensure that you don't end up doing more work than you originally agree to do for a client. It is difficult to assess accurately the time and resources needed to complete a job, but the project could end up costing you money rather than making it for you if you're not careful. It is also important to ensure that you do not include elements in the design or project that will be too expensive and too time consuming for the agreed budget. Unexpected costs do arise all the time, but you must analyse desirables against essentials in a tight budget and be able to deliver within budget and on time, so be realistic.

Budgets are sometimes split into stages, for example there may be a design budget, a production budget and a post-production budget. The instalments will be paid on an agreed date from your commissioning broadcaster or client, so it is vital that you deliver on time for each stage. This can also be an effective way of monitoring efficiency, because work on the next stage may not go ahead until the finance is in place, therefore targets must be met.

In order to ensure that a project is completed on time and within budget is to always have a plan B. If you are shooting outside there are weather considerations, and wherever your location there may be noise or power supply issues, so it is important to plan a back up location in case unavoidable difficulties hold up production.

Multi-skilling is increasingly becoming the best way to make the most of limited budgets, particularly in the independent sector, and it's important to learn how to manage the money you've got and to find out what's most important in the production you're making. The end format of your project may also prompt you to come up with money saving ideas and make you think about how to shoot the footage you need in the most cost effective way, for instance if the footage is going to be compressed for a website, DVD or CD Rom.

Don't waste money in unnecessary areas and talk to experts in each field to find out what is possible within your budget. Research each area carefully to ensure that you are getting the best value for money. Companies who are looking to commission projects often put their projects out to tender and you may be competing against other people in your field, so it is essential to present a cost efficient proposal while still leaving a respectable profit margin.

It is also important that your schedule makes the most of your time and resources. Each location should be visited only once if possible, the minimum number of props should be hired and keep travelling time and overnights down. You also need to estimate realistically how many minutes can be shot each day or how many minutes of a piece can be animated or rendered, and allow flexibility in the budget for unexpected events.