| Budgets are determined at
a very early stage in the production process and are built in different
ways depending on the type of project. Drama is at least twice as
expensive per hour to produce as documentary and in the new media
environment there are different considerations to take into account
when building your budget. Although there are many varying factors,
your budget must cover your production costs and produce a profit
margin.
In the new media environment it is common for the commissioning
client to set a budget for companies to work within, but if you
are constructing your own budget it is essential that everyone involved
agrees that the figure would be workable. Any differences arising
should be dealt with before the project begins to avoid problems
later on.
There are a number of initial factors to consider before you can
begin to build the budget for any project and these can be broadly
divided into three categories: pre-production, production and post-production.
An example of a pre-production consideration would be to decide
what format to work or shoot on and this can impact greatly on the
costing of the project. Advantages and disadvantages should be weighed
up in all areas for best cost efficiency.
The more accurate financial information you can gather about a project,
the more accurate your budget and schedule will be.
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