Budgeting For Advertising Projects

Note to Mentors

Please help edit this wiki page with any content that feels right to you. Contribute your knowledge to this wiki by adding things that you feel students should learn in order to attain an understanding of this unit. Add examples, case studies or exercise ideas where appropriate. Don’t worry too much about formatting of this wiki page. Our curators will tidy this page every 24 hours.

Unit Purpose and Aims

The purpose of this unit is to;

Budgeting is a complex process. This unit exposes the learner to the necessary techniques for creating a budget and then for managing performance against budgets.

Learning Outcomes

Learners will;

1. Understand the components of an ad campaign budget.

Learners can;

1.1 In response to a given brief for a possible campaign, explain all the typical components needed in a professional budget.

2. Be able to create an effective budget

2.1 Evaluate available information to prepare a realistic budget for the respective area of activity  or work

2.2 Consult with others to prepare a realistic budget for the respective area of activity or work

3. Know how to manage a creative budget

3.1 Provide ongoing information on performance against the budget.

3.2 Gather information from implementation of the budget to assist in the preparation of future budgets

Learning Tools, Resources & Links

Things that will help the learner develop understanding of this unit;

Mentors  please add your ideas, examples, case studies, links to articles, videos, etc. here.

————–

Things to consider when budgeting for advertising projects:

• client’s budget
• agency internal cost: account, client service, creative, planning, finance, and legal
• technology cost: equipment rental, equipment purchase, running costs such as additional energy
• props
• external suppliers: usually they offer full service for what they doing, however depending on the contract that can change
• transportation
• catering
• location, so i.e. cost for renting out Wembley stadium