Project Budget Template

Project Budget Template


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First Name
Last Name
Acme LLC.
First Name
Last Name
Corporation Corp.
First Name
Last Name
Acme LLC.
First Name
Last Name
Corporation Corp.
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Project Budget Template
Project Budget Template

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Date: March 8th 2023



Acme LLC.

Corporation Corp.

This Contract is between Client (the "Client") and Acme LLC, a California limited liability company (the "Coach").

The Contract is dated January 23, 2023.


1.1 Project. The Client is hiring the Coach to develop a coaching relationship between the Client and Coach in order to cultivate the Client's personal, professional, or business goals and create a plan to achieve those goals through stimulating and creative interactions with the ultimate result of maximizing the Client's personal or professional potential.

1.2 Schedule. The Coach will begin work on February 1, 2023 and will continue until the work is completed. This Contract can be ended by either Client or Coach at any time, pursuant to the terms of Section 4, Term and Termination.

The Coach and Client will meet by video conference, 4 days per month for 2 hours.

1.3 Payment. The Client will pay the Coach an hourly rate of $150. Of this, the Client will pay the Coach $500.00 (USD) before work begins.

1.4 Expenses. The Client will reimburse the Coach's expenses. Expenses do not need to be pre-approved by the Client.

1.5 Invoices. The Coach will invoice the Client in accordance with the milestones in Section 1.3. The Client agrees to pay the amount owed within 15 days of receiving the invoice. Payment after that date will incur a late fee of 1.0% per month on the outstanding amount.

1.6 Support. The Coach will not be available by telephone, or email in between scheduled sessions.


- A coaching relationship is a partnership between two or more individuals or entities, like a teacher-student or coach-athlete relationship. Both the Client and Coach must uphold their obligations for the relationship to be successful.

- The Coach agrees to maintain the ethics and standards of behavior established by the International Coaching Federation (ICF).

- The Client acknowledges and agrees that coaching is a comprehensive process that may explore different areas of the Client's life, including work, finances, health, and relationships.

- The Client is responsible for implementing the insights and techniques learned from the Coach.


3.1 Overview. This section contains important promises between the parties.

3.2 Authority To Sign. Each party promises to the other party that it has the authority to enter into this Contract and to perform all of its obligations under this Contract.

3.3 Coach Has Right To Give Client Work Product. The Coach promises that it owns the work product, that the Coach is able to give the work product to the Client, and that no other party will claim that it owns the work product. If the Coach uses employees or subcontractors, the Coach also promises that these employees and subcontractors have signed contracts with the Coach giving the Coach any rights that the employees or subcontractors have related to the Coach's background IP and work product.

3.4 Coach Will Comply With Laws. The Coach promises that the manner it does this job, its work product, and any background IP it uses comply with applicable U.S. and foreign laws and regulations.

3.5 Work Product Does Not Infringe. The Coach promises that its work product does not and will not infringe on someone else's intellectual property rights, that the Coach has the right to let the Client use the background IP, and that this Contract does not and will not violate any contract that the Coach has entered into or will enter into with someone else.

3.7 Client-Supplied Material Does Not Infringe. If the Client provides the Coach with material to incorporate into the work product, the Client promises that this material does not infringe on someone else's intellectual property rights.


This Contract is ongoing until it expires or the work is completed. Either party may end this Contract for any reason by sending an email or letter to the other party, informing the recipient that the sender is ending the Contract and that the Contract will end in 7 days. The Contract officially ends once that time has passed. The party that is ending the Contract must provide notice by taking the steps explained in Section 9.4. The Coach must immediately stop working as soon as it receives this notice unless the notice says otherwise.

If either party ends this Contract before the Contract automatically ends, the Client will pay the Contractor for the work done up until when the Contract ends. The following sections don't end even after the Contract ends: 3 (Representations); 6 (Confidential Information); 7 (Limitation of Liability); 8 (Indemnity); and 9 (General).


The Client is hiring the Coach as an independent contractor. The following statements accurately reflect their relationship:

- The Coach will use its own equipment, tools, and material to do the work.

- The Client will not control how the job is performed on a day-to-day basis. Rather, the Coach is responsible for determining when, where, and how it will carry out the work.

- The Client will not provide the Coach with any training.

- The Client and the Coach do not have a partnership or employer-employee relationship.

- The Coach cannot enter into contracts, make promises, or act on behalf of the Client.

- The Coach is not entitled to the Client's benefits (e.g., group insurance, retirement benefits, retirement plans, vacation days).

- The Coach is responsible for its own taxes.

- The Client will not withhold social security and Medicare taxes or make payments for disability insurance, unemployment insurance, or workers compensation for the Coach or any of the Coach's employees or subcontractors.


6.1 Overview. This Contract imposes special restrictions on how the Client and the Coach must handle confidential information. These obligations are explained in this section.

6.2 The Client's Confidential Information. While working for the Client, the Coach may come across, or be given, Client information that is confidential. This is information like customer lists, business strategies, research & development notes, statistics about a website, and other information that is private. The Coach promises to treat this information as if it is the Coach's own confidential information. The Coach may use this information to do its job under this Contract, but not for anything else. For example, if the Client lets the Coach use a customer list to send out a newsletter, the Coach cannot use those email addresses for any other purpose. The one exception to this is if the Client gives the Coach written permission to use the information for another purpose, the Coach may use the information for that purpose, as well. When this Contract ends, the Coach must give back or destroy all confidential information, and confirm that it has done so. The Coach promises that it will not share confidential information with a third party, unless the Client gives the Coach written permission first. The Coach must continue to follow these obligations, even after the Contract ends. The Coach's responsibilities only stop if the Coach can show any of the following: (i) that the information was already public when the Coach came across it; (ii) the information became public after the Coach came across it, but not because of anything the Coach did or didn't do; (iii) the Coach already knew the information when the Coach came across it and the Coach didn't have any obligation to keep it secret; (iv) a third party provided the Coach with the information without requiring that the Coach keep it a secret; or (v) the Coach created the information on its own, without using anything belonging to the Client.

6.3 Third-Party Confidential Information. It's possible the Client and the Coach each have access to confidential information that belongs to third parties. The Client and the Coach each promise that it will not share with the other party confidential information that belongs to third parties, unless it is allowed to do so. If the Client or the Coach is allowed to share confidential information with the other party and does so, the sharing party promises to tell the other party in writing of any special restrictions regarding that information.


Neither party is liable for breach-of-contract damages that the breaching party could not reasonably have foreseen when it entered this Contract.


8.1 Overview. This section transfers certain risks between the parties if a third party sues or goes after the Client or the Coach or both. For example, if the Client gets sued for something that the Coach did, then the Coach may promise to come to the Client's defense or to reimburse the Client for any losses.

8.2 Client Indemnity. In this Contract, the Coach agrees to indemnify the Client (and its affiliates and their directors, officers, employees, and agents) from and against all liabilities, losses, damages, and expenses (including reasonable attorneys' fees) related to a third-party claim or proceeding arising out of: (i) the work the Coach has done under this Contract; (ii) a breach by the Coach of its obligations under this Contract; or (iii) a breach by the Coach of the promises it is making in Section 3 (Representations).

8.3 Coach Indemnity. In this Contract, the Client agrees to indemnify the Coach (and its affiliates and their directors, officers, employees, and agents) from and against liabilities, losses, damages, and expenses (including reasonable attorneys' fees) related to a third-party claim or proceeding arising out of a breach by the Client of its obligations under this Contract.


9.1 Assignment​. This Contract applies only to the Client and the Coach. Neither the Client nor the Coach can assign its rights or delegate its obligations under this Contract to a third-party (other than by will or intestate), without first receiving the other's written permission.

9.2 Arbitration. As the exclusive means of initiating adversarial proceedings to resolve any dispute arising under this Contract, a party may demand that the dispute be resolved by arbitration administered by the American Arbitration Association in accordance with its commercial arbitration rules.

9.3 Modification; Waiver. To change anything in this Contract, the Client and the Coach must agree to that change in writing and sign a document showing their contract. Neither party can waive its rights under this Contract or release the other party from its obligations under this Contract, unless the waiving party acknowledges it is doing so in writing and signs a document that says so.

9.4. Noticies.

(a) Over the course of this Contract, one party may need to send a notice to the other party. For the notice to be valid, it must be in writing and delivered in one of the following ways: personal delivery, email, or certified or registered mail (postage prepaid, return receipt requested). The notice must be delivered to the party's address listed at the end of this Contract or to another address that the party has provided in writing as an appropriate address to receive notice.

(b) The timing of when a notice is received can be very important. To avoid confusion, a valid notice is considered received as follows: (i) if delivered personally, it is considered received immediately; (ii) if delivered by email, it is considered received upon acknowledgement of receipt; (iii) if delivered by registered or certified mail (postage prepaid, return receipt requested), it is considered received upon receipt as indicated by the date on the signed receipt. If a party refuses to accept notice or if notice cannot be delivered because of a change in address for which no notice was given, then it is considered received when the notice is rejected or unable to be delivered. If the notice is received after 5:00pm on a business day at the location specified in the address for that party, or on a day that is not a business day, then the notice is considered received at 9:00am on the next business day.

9.5 Severability. This section deals with what happens if a portion of the Contract is found to be unenforceable. If that's the case, the unenforceable portion will be changed to the minimum extent necessary to make it enforceable, unless that change is not permitted by law, in which case the portion will be disregarded. If any portion of the Contract is changed or disregarded because it is unenforceable, the rest of the Contract is still enforceable.

9.6 Signatures. The Client and the Coach must sign this document using Bonsai's e-signing system. These electronic signatures count as originals for all purposes.

9.7 Governing Law. The validity, interpretation, construction and performance of this document shall be governed by the laws of the United States of America.

9.8 Entire Contract. This Contract represents the parties' final and complete understanding of this job and the subject matter discussed in this Contract. This Contract supersedes all other contracts (both written and oral) between the parties.



Acme LLC.

Corporation Corp.
Table of contents

What is a project budget template?

When managing projects, one of the main tasks before beginning will be creating a project budget. A project budget is a document that outlines all expenses related to your potential project. This will estimate and summarize all costs required to complete your project.

Using a project budget template can decrease the time and effort to plan a budget, and helps to standardize the overall planning process. A Project Budget Template is a detailed planning tool that uses previous projects - or a standard framework - to estimate a new project’s revenues, expenses and profit. Using a template can save you valuable time in the creation of new projects.

This budget serves as a document to outline all expected costs for the various stages of the project, including:

  • Staffing
  • Project tools
  • Expenses
  • Hours worked/Labor
  • Software
  • Travel
  • Meals
  • And more

Using a project budget template, you can reuse the structure and content of past projects, including general tasks and common budgeted costs. A template ensures that you are not missing any vital pieces of information that could lead to an inaccurate budget.

Why do you need a project budget template?

Writing a great project proposal can be a daunting task. You are reviewing all potential costs of tasks and milestones that need to be completed over a defined period of time. You will use this to forecast and define the resources your team will require for each project phase.

Planning a project budget helps you stay ahead of the curve. It allows you to identify how much your process will likely cost, and gives your project team the ability to ensure they are not exceeding the budget. A project budget template is a great tool to make sure your potential cost is within the approved funding for the project.

Creating a Project Budget

For budget creation, there are a variety of options you can pick from to get started. Choices range from classic spreadsheet options like Excel, all the way up to cloud based CRMs like Bonsai and Asana. When getting started, make sure you choose a tool that allows you to keep track of current and future expenses.

Why platforms like Excel are poor project budgeting tools

One of the biggest issues with using spreadsheet tools for project management is that they lack many core features that are needed to successfully track and manage projects. While a tool like Excel is not necessarily bad for data analysis or financial forecasting, it may not be the best available option for creating a budget template.

Excel is so manual that you will waste a lot of time and increase your risk of error. Consider the following drawbacks:

  • Excel lacks the project tracking features that make it easy to manage your resources and their time
  • There is no way of tracking risks or milestones in an Excel sheet, and also no way to link actions with issues
  • You cannot collaborate effectively in real-time with team members
  • You cannot automate processes for multiple projects without paying extra for business intelligence integrations

Using business automation for your project budget

Project management includes many manual, repetitive processes. A best practice for creating your project budget is to introduce business automation. This can save your business time and money.

Automation, such as planning, reporting, or updating, can often be repeated or adapted to different projects within an organization since they usually share a business goal. You can evaluate your Customer Relationship Management (CRM) tool and sales pipeline with automation tools, and then use these features to examine how different projects can affect your budget.

Today’s most popular CRM and sales tools feature automation and business intelligence. Platforms like Bonsai allow you to set up automations for milestones such as forms being completed, when a contract is signed, and when a project is completed. You can even use your CRM to automate payments and use data to model future budget and business decisions.

Automating processes creates a clear structure, a sense of routine, and establishes accountability throughout your team.

Step by step how to create a project budget

When creating a project budget, consider using the following framework as a guideline to get started:

  1. Define Project Scope
  • Project scope is a detailed outline of all aspects of a project: phases, resources, timelines, budget, and more. Project scope involves determining and documenting a list of specifics such as project goals, deliverables, tasks, costs and deadlines. In short, a project scope defines all the work and considerations required to deliver a specific outcome. The scope statement explains the boundaries of the project, establishes responsibilities for each team member and sets up procedures for how completed work will be verified and approved.
  1. Identify What Resources Are Needed
  • When identifying all the resources and materials you’ll need to perform well, make sure to include them into your estimate when calculating the price. You will need to budget for resources when you want to track planned (baseline) work, material, or costs against actual work, material, or costs.
  1. Estimation Of All Product Costs
  • To create an effective budget, you must account for everything that will incur a cost. Consider the following expenses for reference:
  • Labor
  • Equipment
  • Supplies
  • Travel
  • Training
  • Overhead
  • etc.
  1. Cost Allocation
  • Part of maintaining an effective budget is making sure you determine which part of the budget each business unit is responsible for. This is known as cost allocation, and it helps determine which branch of the business is responsible for each cost.
  1. Monitoring & Controlling Your Budget
  • A good project budget should be detailed and include information about the amount of money you expect to earn from the project, when those earnings will be received, and what the project’s profit margins will be. Project budgets are often used to determine whether a proposed project is worth pursuing. This can be done by comparing the estimated budget of the project to the expected profit. You will need to monitor, control, and potentially even adjust your budget as the project proceeds.

Managing your budget effectively

Business budget templates give you a way to measure your budget in a more concrete way than an excel template. You are not only able to provide more detail about each line item, but also able to present the budget in a way that is easy to read and understand.

A budget template allows you to allocate and plan for each dollar. You prepare for spending and plan for flexibility if needed. Following a budget template also allows you to adjust and prepare for potential scenarios that may arise throughout the project.

Create your own consulting project budget with Bonsai templates

Managing a budget is an essential part of running a successful freelance business. You must account for income and expenses, monitor how well your business is performing, and plan for the future. Using a project budget template can decrease the time and effort to plan a budget, and will help standardize the overall planning process.

Using an effective template can make the difference between a rejected project and an approved one. You may have the best idea ever - but if you cannot keep an eye on the details and make sure you cover all grounds - you may not be able to put your plan into action.

A vital part of project management is creating and managing an accurate budget. Use Bonsai’s project budget template, along with a well-defined project plan, to put together a winning budget today!

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Project Budget Template

First Name
Last Name
Acme LLC.
First Name
Last Name
Corporation Corp.
First Name
Last Name
Acme LLC.
First Name
Last Name
Corporation Corp.