#Expense forecasting in projects

[asestimationsconsultants]

Cost Estimating Service vs. Cost Budgeting Service | Key Differences Explained.

Introduction

In project management and financial planning, two critical concepts—cost estimating service and cost budgeting service—are often used interchangeably. However, they serve distinct purposes in ensuring a project's financial success. Cost estimating involves predicting the total costs required for a project, while cost budgeting focuses on allocating and managing those estimated costs throughout the project lifecycle. Understanding the differences between these two processes is essential for effective financial planning and risk management. This article explores their definitions, key differences, and their role in successful project execution.

What Is Cost Estimating?

Cost estimating is the process of predicting the total expenditure for a project before work begins. It involves analyzing various factors, including labor, materials, equipment, and indirect costs. The primary objective of cost estimating is to develop a realistic projection of expenses, which helps in decision-making and project feasibility assessment.

Key Aspects of Cost Estimating:

Data-Driven Analysis: Uses historical data, market research, and expert judgment to determine cost predictions.

Multiple Estimation Methods: Includes techniques such as parametric, bottom-up, and three-point estimating.

Accuracy Levels: Ranges from rough order of magnitude (ROM) estimates in early planning to detailed estimates in later project phases.

Risk Identification: Identifies potential cost risks and integrates contingency plans to address uncertainties.

Cost estimating is a critical step in determining whether a project is financially viable and helps stakeholders make informed investment decisions.

What Is Cost Budgeting?

Cost budgeting, on the other hand, involves allocating the estimated costs across different project phases and monitoring spending to ensure financial control. It transforms the cost estimate into a structured financial plan, ensuring that funds are available when needed.

Key Aspects of Cost Budgeting:

Fund Allocation: Distributes the estimated costs into project phases, tasks, and departments.

Cash Flow Management: Ensures adequate funds are available at each stage of the project.

Cost Baseline Development: Establishes a benchmark for measuring actual spending against planned costs.

Ongoing Monitoring and Adjustments: Tracks project expenses and makes necessary adjustments to prevent cost overruns.

Cost budgeting ensures that financial resources are efficiently utilized and that the project remains financially sustainable.

Key Differences Between Cost Estimating and Cost Budgeting

AspectCost EstimatingCost BudgetingDefinitionPredicts the total expected cost of a projectAllocates estimated costs across the project timelinePurposeDetermines financial feasibilityEnsures cost control and resource managementTimingConducted before project approvalImplemented after estimates are finalizedScopeCovers labor, materials, equipment, and contingenciesFocuses on fund distribution and expenditure trackingOutcomeProvides an estimated project costDevelops a financial plan for project execution

How Cost Estimating and Cost Budgeting Work Together

Cost estimating and cost budgeting are interconnected processes that contribute to successful project execution. The cost estimate serves as the foundation for creating a realistic budget. Once the budget is set, it guides financial decisions and resource allocations throughout the project.

Here’s how they complement each other:

Estimating Costs First: Project managers determine the projected costs using estimation techniques.

Creating a Budget: The estimated costs are structured into a financial plan with designated allocations.

Tracking Expenses: Budgeting ensures that actual expenses align with estimated projections.

Adjusting as Needed: Cost control measures help address deviations and optimize spending.

By integrating both processes, organizations can improve financial accuracy, reduce risks, and ensure project success.

Importance of Understanding the Difference

Misinterpreting cost estimating as cost budgeting can lead to financial mismanagement and project inefficiencies. Recognizing their differences helps in:

Preventing Budget Shortfalls: Ensures sufficient funds are available for each phase of the project.

Enhancing Decision-Making: Helps stakeholders make informed financial and resource allocation decisions.

Minimizing Risks: Identifies potential cost overruns and incorporates contingency plans.

Improving Project Efficiency: Enables better planning, execution, and financial control.

Conclusion

While cost estimating and cost budgeting are closely related, they serve distinct roles in financial planning. Cost estimating focuses on forecasting total project expenses, whereas cost budgeting ensures those costs are effectively distributed and managed. Understanding and applying both processes correctly is crucial for successful project execution, financial stability, and risk mitigation. Organizations that master these concepts can optimize their financial strategies and achieve project success with greater confidence.

As industries continue to evolve, leveraging cost estimation and budgeting best practices will remain essential for maintaining financial discipline and operational efficiency.

[whats-in-a-sentence]

He said the group's long-term financing would depend on its achieving performance forecasts:

We need time to review the needs of the Northern Star, to agree on the required financing and to obtain approval from our respective internal authorities, including, in the case of Westpac, the approval of the board. In the longer term . . . banks could be expected to maintain support if management's performance were in accordance with projections. That presumes full exchange of information, constant monitoring of revenue and expenses, and continued confidence in management.

"Westpac: The Bank That Broke the Bank" - Edna Carew

[costmastersindia]

Best Estimating and Costing Software - Cost Masters

Find reliable project cost estimation and optimization with Cost Masters – a trusted provider of estimating and costing software. Streamline your budgeting process with our precise and efficient tools. Eliminate errors and simplify cost management. Learn more about Cost Masters today.

[covid-safer-hotties]

Also preserved in our archive

By Bill Shaw

The latest wastewater surveillance data show that the COVID-19 pandemic has entered its tenth wave in the United States. Last week’s spike in wastewater was the highest percentage increase in transmission in almost three years, though these figures could be revised downwards and the full severity of the wave will only become clear in the coming weeks. One reason for the rapid jump appears to be a later start for the “winter surge” than is typical, and thus the virus could be quickly rising to a level that has now become typical for this time of year.

The Pandemic Mitigation Collaborative (PMC) model estimates that 1.6 percent of Americans are presently infected and capable of transmitting the virus to others. That is 1 in 64 people and represents nearly 750,000 new COVID-19 cases per day. That means that on a flight of 100 people, there is an 80 percent chance that at least one person is infectious; on a flight of 300 people that rises to a 99 percent chance.

This level of transmission exceeds the levels for 73 percent of the duration of the pandemic to date. Given the known incidence of Long COVID, the current levels of transmission are generating an estimated 200,000 new cases of Long COVID per week.

Not a word about this latest COVID-19 wave has been uttered by the Biden administration or any major outlet in the corporate media. The entire political establishment is in agreement on the need to enforce the pro-corporate policy of “forever COVID,” in which the working class and broad layers of society as a whole are condemned to unending waves of mass infection, death and debilitation with Long COVID.

The PMC model projects that the current winter surge could peak between New Year’s Day and January 7. Because COVID-19 transmission followed a completely different pattern in 2024 than any other year of the pandemic, it is more difficult to forecast transmission during the current surge. This year’s summer surge was unusually late and sustained, while also declining abnormally rapidly, and the lull between the summer and winter surges was atypically long.

The latest data on test positivity and emergency department visits from the Centers for Disease Control and Prevention (CDC) show both these indicators on the increase. Hospitalizations and deaths are typically lagging indicators, and although they have not yet increased, they are likely to rise as well in the coming week or two.

The new XEC variant continues to increase as a percentage of COVID-19 infections, now estimated at 44 percent, compared to 33 percent a week ago. It is now the most common variant, having surpassed the KP3.1.1 variant per the most recent data.

Given the total absence of governmental support for the renovation of infrastructure to ensure that indoor air is purified in public spaces, the only defenses against COVID-19 continue to be vaccines and non-pharmaceutical measures, such as social distancing and masking. Vaccination additionally protects against the most adverse outcomes of COVID-19, including death and hospitalization, while providing moderate protection against Long COVID.

Unfortunately, misinformation coupled with the potential expense of paying for a costly vaccine have resulted in extremely low vaccination rates for COVID-19. Per the latest CDC data, only 21.0 percent of American adults reported that they have received the latest vaccine released at the beginning of the Fall. Coverage of children is even worse at 10.6 percent, or approximately half the rate of adults.

Dr. Alexander Sloboda, medical director of immunizations for the Chicago Department of Public Health, said:

There’s still a lot of misinformation, disinformation, particularly around the COVID vaccine, so just trying to overcome the misinformation, disinformation that’s out there with correct information is what we’re trying to do. Obviously, it’s a kind of an uphill battle.

In another development this week related to the science of COVID-19 treatment, a study from 2020 that purported to show that hydroxychloroquine was an effective treatment was finally retracted. According to the journal’s retraction notice, the paper was pulled because of ethical transgressions and major flaws in methodology.

Even though numerous scientists immediately spotted and exposed the flaws of the study, it took four years of campaigning before the journal editors finally relented and retracted the paper this month. In fact, a lead author on the study, Didier Raoult, at one point threatened legal action against the whistleblowers who challenged the study. One of the journal editors was a co-author of the study, likely a factor in the long time period between the paper being discredited and it being retracted.

The scientific discourse over the study included subsequent identification of additional serious methodological flaws in 2023. Recently, three of the study’s authors wrote a letter to the journal requesting a retraction, acknowledging that no confidence could be placed in the “results” and stating explicitly that they no longer wished to be associated with the paper.

Notably, Raoult has so far had 28 papers retracted, including this one. Raoult leads the French Hospital Institute of Marseille Mediterranean Infection (IHU). Overall, 32 papers authored by IHU members, including Raoult, have been retracted. Investigations are underway on at least 100 more papers by this group, mostly due to concerns that the studies violated ethical standards.

The discredited hydroxychloroquine study spawned massive misinformation promoting the drug as a treatment for COVID-19. The most infamous episodes involved then-President Donald Trump, who in a period of two months in 2020 made 11 tweets about unproven therapies for COVID-19 and mentioned them 65 times in White House briefings. Trump repeatedly referenced this now-retracted study, even after it had been discredited. During that time, purchases of hydroxychloroquine on Amazon surged by 200 percent.

With Trump returning to the presidency and having nominated a slate of anti-science quacks to every public health-related leadership position in the federal government—overseen by the notorious purveyor of anti-vaccine disinformation Robert F. Kennedy, Jr.—the working class must heighten its vigilance against medical misinformation and follow the advice of principled scientists. Any one of Trump’s nominees is damaging, but collectively it will be catastrophic when their pseudo-science becomes official policy.

Official policy under Biden already is criminally permitting the pandemic to continue to cause death and disability virtually unchecked. The constant emergence of new variants, including at least three major new variants this year alone, is a product of the dismantling of public health measures to contain the virus. Protecting the public’s health requires more than just vigilance. The working class must organize on its own political program to replace capitalism with socialism, a social system that prioritizes human health over private profit.

[tomorrowusa]

We really do need to be concerned about NOAA. Nitwits with Sharpies are no substitute for professional weather forecasting.

Forecasters at the National Oceanic and Atmospheric Administration (NOAA) predict “above-average” activity this season, with six to 10 hurricanes. The season runs from June 1 to November 30. At least three of those storms will be Category 3 or higher, the forecasters project, meaning they will have gusts reaching at least 111 miles per hour. Other reputable forecasts predict a similarly active 2025 season with around nine hurricanes. Last year, there were 11 Atlantic hurricanes, whereas the average for 1991 to 2020 was just over seven, according to hurricane researchers at Colorado State University. A highly active hurricane season is obviously never a good thing, especially for people living in places like Florida, Louisiana, and, apparently, North Carolina (see: Hurricane Helene, the deadliest inland hurricane on record). Even when government agencies that forecast and respond to severe storms — namely, NOAA and the Federal Emergency Management Agency (FEMA) — are fully staffed and funded, big hurricanes inflict billions of dollars of damage, and they cost lives. Under the Trump administration, however, these agencies are not well staffed and face steep budget cuts. Hundreds of government employees across these agencies have been fired or left, including those involved in hurricane forecasting. What could go wrong?

Warm seas act like jet fuel for developing storms. The Caribbean and the adjacent Gulf of Mexico have been getting hotter and hotter.

If this sounds familiar, that’s because the Caribbean has been unusually warm for a while now. That was a key reason why the 2024 and 2023 hurricane seasons were so active. Warm ocean water, and its ability to help form and then intensify hurricanes, is one of the clearest signals — and consequences — of climate change. Data indicates that climate change has made current temperatures in parts of the Caribbean and near Florida several (and in some cases 30 to 60) times more likely.

Thanks to DOGE, we have fewer forecasters studying worsening conditions.

[U]nder the Trump administration, hundreds of workers at NOAA have been fired or otherwise pushed out, which threatens the accuracy of weather forecasts that can help save lives. FEMA has also lost employees, denied requests for hurricane relief, and is reportedly ending door-to-door canvassing in disaster regions designed to help survivors access government aid.

Forecasting depends on observations and taking readings. There's less of that under Trump.

As my colleague Umair Irfan has reported, the National Weather Service is also launching weather balloons less frequently, due to staffing cuts. Those balloons measure temperature, humidity, and windspeed, providing data that feeds into forecasts.

Perhaps the only thing that might cause a reversal of this stupidity in the near future is back-to-back direct hits by hurricanes at Mar-a-Lago and the SpaceX launch site near the Texas-Mexico border.

Related: Trump disasters will become more expensive...

Trump​ Is Going to Raise Your Insurance Premiums

[darkmaga-returns]

COMMENT: Marty, I just had to write. While everyone is blaming Trump and tariffs for the stock market crash, not only did Socrates forecast that months in advance, but I trade copper professionally, as you know. What you have created should be recognized as the answer society has been searching for over the millennium.  It projected a January low, a two-month reaction, and a Panic for April 2025 with a Directional Change. I was at your WEC in Orlando and Rome when Nigel Farage said you were the alternative to Davos. What you have discovered goes beyond any Nobel Prize. Socrates has exceeded all expectations.

Nobody comes close to your forecasting ability. I can’t wait for Marcus’ film. It was great that you brought him on stage so we could see a face behind the Forecaster.

DC

REPLY: Thank you. What I discovered was that we are all indeed connected globally. As I said, over the years, many people have come to encourage me, from John Exter and Milton Friedman to Margaret Thatcher.  I believe that the world would be a better place if we just listened for once. Maggie understood cycles. She stated at our WEC perhaps government should look to cycle to operate.Audio Player

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As we head into an economic decline worldwide, bottoming in 2028, Copper prices have declined due to a combination of factors influencing supply and demand dynamics. There has been Reduced Demand from Key Economies, especially China, a major consumer of copper (used in construction, infrastructure, and manufacturing), as it is experiencing its own economic deceleration, leading to lower copper demand. Global recessions in industrial activity (e.g., during the COVID-19 pandemic) started the depression in demand.

Overproduction has also been an issue as expansion of mining operations or new mines coming online (e.g., in Chile, Peru, or the Democratic Republic of Congo) have led to oversupply, outpacing demand. Then there are High Inventory Levels as we have seen an elevated stockpile in exchanges like the LME and Shanghai Futures Exchange, signalling excess supply, pressuring prices downward.

Then there was also the stronger dollar. As copper is priced in dollars, a stronger dollar makes it more expensive for foreign buyers, reducing demand and lowering prices. This also encourages and increases foreign production for the currency bonus. There has been a gradual shift to alternatives (e.g., aluminum in electrical wiring) or adopting more efficient technologies/recycling, reducing copper demand to some extent.

Tariffs and trade barriers (e.g., U.S.-China trade tensions) have also disrupted supply chains and dampened demand. Stricter policies, intended to raise production costs, could also incentivize alternatives and have indirectly affected demand.

In summary, copper’s decline typically reflects the interplay between macroeconomic trends, supply-chain adjustments, currency movements, and investor behavior. Specific triggers vary by timeframe but often hinge on China’s economic health and global industrial demand.

[mightyflamethrower]

Seattle Enters Democrat Death Spiral

Once Democrats have achieved critical mass, the result is inevitable. Even Detroit, once the wealthiest city in the country, was reduced to postapocalyptic ruin by the Democrat Death spiral. Seattle now follows:

Seattle Mayor Bruce Harrell released his payroll expense tax (PET) report for 2024 Tuesday, and its projections came up nearly $50 million short.

Harrell says he will “consider all options” to make the numbers add up, “including additional revenue sources and appropriate expense reductions.”

We have seen this movie before. Harrell and his fellow Democrats will seize additional resources hand over fist, but expense reductions would alienate the parasites who vote for them. Consequently, there will be no meaningful reductions, and the numbers will come ever farther from adding up, requiring ever more revenue sources.

From an ominous statement from Harrell:

“We need to design our tax policies with the full context of our economy and a comprehensive view that ensures we raise the revenue needed to support all of our residents in a progressive way, aligned with our values.”

Democrat values consist of leftism. Harrell says the businesses being looted should “should pay their fair share.”

As always, government greed is what created the mess in the first place:

The payroll tax is levied on large corporations in the city, like Amazon and Expedia. Such a steep revenue forecast error suggests high-paying companies or their jobs are leaving the city.

Those left behind after businesses are driven out will be increasingly dependent on government handouts and thereby on the Democrats who give them other people’s money, creating a vicious cycle that will pull the city into a Marxist maelstrom of left-wing radicalism and economic dysfunction. But at least Democrats won’t have to worry about losing elections, any more than the do in the ruined wasteland once known as the Motor City.

[Esteemed countermoonbat Jason Rantz] noted that the Seattle payroll tax idea may go statewide with the budget proposal from Washington Democrats.

Productive citizens are advised to escape the whole state, which Seattle may pull down with it like Chicago has been doing to Illinois.

On a tip from DCGere.

[mariacallous]

If you’re one of the millions of Americans worried about your pocketbooks and the general cost of living, you might have picked up on some good news recently: Inflation has really been cooling off this summer, as long-sticky (and long-lamented) food and energy prices continue to moderate. Some economic indicators remain stubborn, however—and they aren’t likely to abate anytime in the near future, no matter how long the Federal Reserve keeps interest rates high, what tweaks President Joe Biden makes to his trade policy, whether corporations decide themselves to slash prices on certain products, or whether Covid-battered supply chains finally get some long-needed fixes.

Other, grimmer recent headlines help to explain why. Hard rains from a tropical disruption in the Gulf have been battering Florida’s southern regions for days, leading to a rare flash-flood emergency. Another batch of storms is swirling near Texas at the moment and could form into a tropical depression, according to forecasts from the National Hurricane Center. Even if both states end up missing bigger storms now, it’s likely only a matter of time before they’re threatened again: The National Oceanic and Atmospheric Administration predicts that the United States will see its worst hurricane season in decades this summer.

Meanwhile, the heat waves that have enveloped Phoenix are intensifying to the point that some analysts are deeming its latest conditions “a Hurricane Katrina of heat.” Spanning outward, the Midwest and Northeast are projected to get their own extreme heat warnings as early as next week, with energy demand set to skyrocket as people turn on their air conditioners. The country has already seen 11 “billion-dollar disasters” this year, including the tornadoes that slammed Iowa just weeks ago. Meanwhile, the already strapped Federal Emergency Management Agency faces a budgetary crisis, and sales of catastrophe bonds are at an all-time high.

Now, let’s look back at the inflation readings. One of the categories remaining stubbornly high while other indicators shrink? Shelter and housing, natch, as rents and insurance stay hot—and still-elevated interest rates make construction and mortgage costs even more prohibitive. On the energy front, motor fuel may be cheapening, but fuel and electricity for home use are still pricey. Auto insurance remains a driving outlier, as I noted back in April, not least because of insurers hiking premiums for cars in especially disaster-vulnerable regions—like the South, the Southwest, and the coasts.

Look at what else is happening in those very regions when it comes to home insurance: Providers are either retreating from or dramatically heightening their prices in states like California, Texas, Florida, and New Jersey, thanks to their unique susceptibility to climate change. These states have seen supercharged extreme weather events like floods, rain bombs, heat waves, and droughts. National lawmakers fear that the insurance crises there may ultimately wreak havoc on the broader real estate sector—but that’s not the only worst-case scenario they have to worry about.

Agricultural yields for important commodities produced in those states (fruits, nuts, corn, sugar, veggies, wheat) are withering, thanks to punishing heat and soil-nutrition depletion. The supply chains through which these products usually travel are thrown off course at varying points, by storms that disrupt land and sea transportation. Preparation for these varying externalities requires supply-chain middlemen and product sellers to anticipate consequential cost increases down the line—and implement them sooner than later, in order to cover their margins.

You may have noticed some clear standouts among the contributors to May’s inflation: juices and frozen drinks (19.5 percent), along with sugar and related substitutes (6.4 percent). It’s probably not a coincidence that Florida, a significant producer of both oranges and sugar, has seen extensive damage to those exports thanks to extreme weather patterns caused by climate change as well as invasive crop diseases. Economists expect that orange juice prices will stay elevated during this hot, rainy summer.

(Incidentally, climate effects may also be influencing the current trajectory and spread of bird flu across American livestock—and you already know what that means for meat and milk prices.)

It goes beyond groceries, though. It applies to every basic building block of modern life: labor, immigration, travel, and materials for homebuilding, transportation, power generation, and necessary appliances. Climate effects have been disrupting and raising the prices of timber, copper, and rubber; even chocolate prices were skyrocketing not long ago, thanks to climate change impacts on African cocoa bean crops. The outdoor workers supplying such necessities are experiencing adverse health impacts from the brutal weather, and the recent record-breaking influxes of migrants from vulnerable countries��which, overall, have been good for the U.S. economy—are in part a response to climate damages in their home nations.

The climate price hikes show up in other ways as well. There’s a lot of housing near the coasts, in the Gulf regions and Northeast specifically; Americans love their beaches and their big houses. Turns out, even with generous (very generous) monetary backstops from the federal government, it’s expensive to build such elaborate manors and keep having to rebuild them when increasingly intense and frequent storms hit—which is why private insurers don’t want to keep having to deal with that anymore, and the costs are handed off to taxpayers.

When all the economic indicators that take highest priority in Americans’ heads are in such volatile motion thanks to climate change, it may be time to reconsider how traditional economics work and how we perceive their effects. It’s no longer a time when extreme weather was rarer and more predictable; its force and reasoning aren’t beyond our capacity to aptly monitor, but they’re certainly more difficult to track. You can’t stretch out the easiest economic model to fix that. And you can’t keep ignoring the clear links between our current weather hellscape, climate change, and our everyday goods.

Thankfully, some actors are finally, belatedly taking a new approach. The reinsurance company Swiss Re has acknowledged that its industry fails to aptly factor disaster and climate risks into its calculations, and is working to overhaul its equations. Advances in artificial intelligence, energy-intensive though they may be, are helping to improve extreme-weather predictions and risk forecasts. At the state level, insurers are pushing back against local policies that bafflingly forbid them from pricing climate risks into their models, and Florida has new legislation requiring more transparency in the housing market around regional flooding histories. New York legislators are attempting to ban insurers from backstopping the very fossil-fuel industry that’s contributed to so much of their ongoing crisis.

After all, we’re no longer in a world where climate change affects the economy, or where voters prioritizing economic or inflationary concerns are responding to something distinct from climate change—we’re in a world where climate change is the economy.

[rjzimmerman]

Notes: The electricity generation trajectories for wind and solar PV indicate potential generation, including current curtailment rates. However, they do not project future wind and solar PV curtailment, which may be significant in some countries by 2028.

Excerpt from this story from EcoWatch:

With solar leading the way, renewables are on track to generate nearly 50 percent of global electricity this decade. But green energy is still predicted to fall short of the United Nations target of tripling capacity, according to Renewables 2024: Analysis and forecast to 2030, a report from the International Energy Agency (IEA).

More than 5,500 gigawatts (GW) of global renewable capacity is set to be added between now and 2030, which is nearly three times the growth from 2017 to 2023, the report said.

“Renewables are moving faster than national governments can set targets for,” said Fatih Birol, IEA’s executive director, as Reuters reported. “This is mainly driven not just by efforts to lower emissions or boost energy security: it’s increasingly because renewables today offer the cheapest option to add new power plants in almost all countries around the world.”

Based on today’s governmental policy settings and current market trends, of the world’s renewable capacity installed between 2024 and 2030, almost 60 percent will come from China, a press release from IEA said.

That would mean nearly half the total global renewable power capacity would be in China by 2030, up from a third in 2010.

“Due to supportive policies and favourable economics, the world’s renewable power capacity is expected to surge over the rest of this decade, with global additions on course to roughly equal the current power capacity of China, the European Union, India and the United States combined,” the press release said.

This decade, solar PV is projected to account for 80 percent of worldwide renewable capacity growth. This is due to the construction of large solar plants and an increase in installations of rooftop solar by households and companies.

The expansion of wind is forecast to double between now and the end of the decade, compared with the period 2017 to 2023.

In nearly every country in the world, solar PV and wind are the least expensive options for adding new electricity generation.

Because of these trends, almost 70 countries that together make up 80 percent of renewable capacity around the world are set to meet or exceed their current renewable goals for 2030.

“The growth is not fully in line with the goal set by nearly 200 governments at the COP28 climate change conference in December 2023 to triple the world’s renewable capacity this decade – the report forecasts global capacity will reach 2.7 times its 2022 level by 2030,” the press release said. “But IEA analysis indicates that fully meeting the tripling target is entirely possible if governments take near-term opportunities for action.”

[asestimationsconsultants]

Forecasting Art Integration ROI Through a Cost Estimating Service

Incorporating art into architectural and urban projects can profoundly enhance aesthetic appeal, cultural value, and community engagement. However, the costs associated with commissioning, installing, and maintaining art elements can be significant. Understanding the return on investment (ROI) of art integration is essential for developers, architects, and public agencies seeking to balance artistic vision with financial viability.

A cost estimating service like AS Estimation & Consultants plays a crucial role in forecasting the ROI of art integration. By accurately projecting costs and linking them to tangible and intangible benefits, they help clients make informed investment decisions that support both creative goals and fiscal responsibility.

Understanding the Costs of Art Integration

Art integration costs extend beyond purchasing or commissioning artworks. They include design fees, structural support modifications, installation, lighting, security measures, ongoing maintenance, and insurance.

AS Estimation & Consultants conduct detailed cost breakdowns covering each aspect of art integration. This comprehensive approach ensures budgets account for the full scope, avoiding unexpected expenses later.

Linking Art Investment to Value Creation

ROI from art integration can be multifaceted. It includes increased property values, enhanced user experience, boosted tourism, positive brand perception, and community pride.

While some benefits are quantifiable, others are qualitative and require thoughtful evaluation. Cost estimating services collaborate with marketing and real estate experts to correlate art investments with potential increases in market value and user engagement.

Evaluating Lifecycle Costs and Benefits

Art installations incur ongoing expenses such as cleaning, repairs, and security. A cost estimating service includes these lifecycle costs alongside upfront investments, providing a long-term financial perspective.

AS Estimation & Consultants also consider depreciation and potential appreciation of artwork, which can affect asset valuation and resale opportunities.

Incorporating Risk and Contingency

Art projects face risks like damage during installation, vandalism, or weather exposure. Estimators incorporate risk allowances and contingency funds to mitigate potential cost overruns or repair expenses.

Customizing Estimates by Art Type and Context

Costs vary significantly based on the type of art—sculptures, murals, interactive installations—and the project context, such as indoor versus outdoor settings.

A cost estimating service tailors budgets to specific art forms and environmental conditions, ensuring realistic forecasting.

Leveraging Data and Case Studies

Estimators utilize data from past art integration projects and case studies to benchmark costs and anticipated ROI. This empirical approach enhances estimate reliability and supports persuasive business cases.

Supporting Funding and Grant Applications

Detailed cost and ROI forecasts aid clients in securing funding from public grants, private donors, or arts councils. Clear, credible estimates demonstrate fiscal responsibility and project feasibility.

Enhancing Stakeholder Communication

Transparent cost and ROI projections help align artists, developers, funders, and community stakeholders. This shared understanding fosters collaboration and supports project success.

Conclusion

Forecasting art integration ROI requires a careful balance of creativity and financial discipline. AS Estimation & Consultants provide expert cost estimating services that quantify the full spectrum of costs and benefits, empowering clients to invest confidently in art projects that enrich environments and deliver lasting value.

[hindintech]

Frontend Projects Ideas

ADVANCED

1. E-commerce Website

2. Social Network

3. Online Learning Platform

4. Music Streaming Service

5. Real Estate Listing

6. Project Management Tool

7. Chatbot Interface

8. Job Board

9. Weather Forecast with Al

10. Stock Trading Platform

11. loT Dashboard

12. Voice Assistant Interface

13. Expense Report Generator

14. Augmented-Reality App

15. Interactive 3D Graphics

16. Blockchain Explorer

17. Machine-Learning Dashboard

18. Language Learning App

19. Financial Planning

20. Astronomy Viewe

[toppickspavilion]

More NOAA Employees May Be Let Go, Making 20% of Staff Cut

More NOAA Employees May Be Let Go, Making 20% of Staff Cut

Introduction

In a significant development, the National Oceanic and Atmospheric Administration (NOAA) is reportedly considering further staff reductions, potentially cutting an additional 20% of its workforce. This move has raised concerns among experts and policymakers about the agency’s ability to continue its critical work in weather forecasting, climate research, and oceanic studies. The impact of these cuts could have far-reaching consequences, affecting both national and global efforts to monitor and mitigate environmental changes.

Breaking News: NOAA’s Workforce Under Threat

As the agency faces budgetary challenges, sources indicate that NOAA may have to let go of more employees in the coming months. These potential job losses follow a series of prior reductions, bringing uncertainty to the agency’s long-term mission. With NOAA being at the forefront of climate research and disaster preparedness, this development has sparked widespread debate.

The Reasons Behind the Cuts

There are several factors contributing to the looming staff reductions:

Budget Constraints – Federal budget adjustments and funding limitations have put NOAA in a difficult position, forcing the agency to reevaluate its staffing needs.

Shifting Priorities – Some policymakers argue that reallocating funds to other national priorities has resulted in reduced financial support for NOAA.

Operational Costs – Rising operational expenses, including technological advancements and data collection processes, have strained NOAA’s budget.

Political Decisions – Changes in administration policies and funding allocations may have influenced the decision to downsize the workforce.

Impact on NOAA’s Operations

A 20% reduction in NOAA’s workforce could have significant implications across multiple areas:

Weather Forecasting and Disaster Preparedness – Fewer employees may result in delays in forecasting severe weather events such as hurricanes, tornadoes, and wildfires.

Climate Change Research – NOAA plays a crucial role in monitoring climate trends and global warming. A reduced workforce could slow down vital research projects.

Marine and Oceanic Studies – NOAA’s efforts in protecting marine ecosystems and tracking oceanic changes may face setbacks due to limited resources.

Global Collaboration – The agency collaborates with international partners on climate change and environmental monitoring. Staff cuts could impact these joint efforts.

Reaction from Experts and Lawmakers

Environmental advocates, scientists, and policymakers have expressed deep concern over the potential downsizing. Some key reactions include:

Scientific Community: Many scientists warn that reducing NOAA’s staff could hinder the country’s ability to respond to climate change and extreme weather events.

Lawmakers: Some members of Congress have called for additional funding to prevent layoffs, emphasizing NOAA’s crucial role in public safety and environmental protection.

Public Concern: Citizens who rely on NOAA’s accurate weather predictions and climate research have voiced worries about the long-term impact of these reductions.

Global News: How This Affects the World

NOAA’s work extends beyond the United States, with its research and data influencing global climate policies. A reduction in staff could:

Slow down international climate change initiatives.

Affect data-sharing agreements with other nations.

Reduce NOAA’s contributions to worldwide disaster preparedness efforts.

What’s Next?

With discussions ongoing, it remains uncertain whether NOAA will proceed with the proposed staff cuts. Lawmakers and advocacy groups are urging the government to reconsider the decision and find alternative solutions to budgetary concerns. The coming months will be critical in determining the future of NOAA’s workforce and its ability to carry out its essential mission.

Conclusion

As breaking news continues to unfold, the potential NOAA staff reductions raise urgent questions about the future of climate research, weather forecasting, and global environmental monitoring. Stakeholders will be closely watching legislative actions and funding decisions that could shape the agency’s fate. For now, the world waits to see how NOAA will navigate this challenging situation while maintaining its commitment to science and public safety.

#letgo #noaa #employees #staff #cut

[eruthiawenluin]

“This week, temperatures on the rez will be dropping below zero and won't return to positive for several days. It is forecasted to get as low as -27 BEFORE wind chill is considered.

This is expected to be a very difficult time, especially for those who are without proper heating sources. Most homes rely on wood-burning stoves but firewood is in short supply and hard to acquire. It can also be very expensive. We have already begun to receive many calls looking for assistance - but we need your help.

One truckload of firewood costs about $200 - that is all it would take to get a family through these incredibly cold days ahead and prevent serious injury.

Thank you for supporting One Spirit and the Lakota people of Pine Ridge Reservation.”

[xettle-technologies]

How Can Financial Literacy and Education Empower Individuals and Businesses?

In an increasingly complex financial world, financial literacy and education have become essential tools for both individuals and businesses. They serve as the foundation for informed decision-making, effective money management, and long-term financial stability. By understanding financial concepts and leveraging modern tools, people and organizations can optimize their resources and achieve their goals more efficiently. The inclusion of technology solutions in this journey has further amplified the impact of financial literacy, making it accessible and actionable for all.

Why Financial Literacy and Education Matter

Financial literacy refers to the ability to understand and effectively use financial skills, including budgeting, investing, and managing debt. Education in these areas empowers individuals to take control of their finances, reduce financial stress, and build wealth over time. For businesses, financial literacy is equally critical, as it enables owners and managers to make data-driven decisions, manage cash flow effectively, and ensure compliance with financial regulations.

Without adequate financial knowledge, individuals are more likely to fall into debt traps, struggle with saving, and make poor investment choices. Similarly, businesses lacking financial literacy may face challenges in budgeting, forecasting, and maintaining profitability. Therefore, a solid foundation in financial concepts is indispensable for long-term success.

The Role of Technology in Financial Literacy

Modern technology solutions have revolutionized the way financial literacy is imparted and practiced. From online courses and mobile apps to AI-driven financial advisors, technology has made financial education more engaging and accessible. These tools provide real-time insights, personalized recommendations, and interactive learning experiences that cater to diverse needs and skill levels.

For example, budgeting apps like Mint and YNAB (You Need a Budget) help individuals track expenses, set financial goals, and stay accountable. Similarly, platforms like Khan Academy and Coursera offer free and paid courses on financial literacy topics, ranging from basic budgeting to advanced investment strategies. Businesses can benefit from specialized tools like QuickBooks for accounting or Tableau for financial data visualization, enabling them to make informed decisions quickly and effectively.

Empowering Individuals Through Financial Literacy

Better Money Management: Financial literacy equips individuals with the skills to create and maintain budgets, prioritize expenses, and save for future goals. Understanding concepts like compound interest and inflation helps people make smarter choices about saving and investing.

Debt Reduction: Education about interest rates, repayment strategies, and credit scores empowers individuals to manage and reduce debt effectively. This knowledge also helps them avoid predatory lending practices.

Investment Confidence: Many people shy away from investing due to a lack of knowledge. Financial literacy programs demystify investment concepts, enabling individuals to grow their wealth through informed choices in stocks, bonds, mutual funds, and other assets.

Enhanced Financial Security: By understanding insurance, retirement planning, and emergency funds, individuals can safeguard their financial future against unexpected events.

Empowering Businesses Through Financial Literacy

Effective Budgeting and Forecasting: Businesses with strong financial literacy can create realistic budgets, forecast revenues and expenses accurately, and allocate resources efficiently. This minimizes waste and maximizes profitability.

Improved Cash Flow Management: Understanding cash flow dynamics helps businesses avoid liquidity crises and maintain operational stability. Tools like cash flow statements and projections are invaluable for this purpose.

Informed Decision-Making: Financially literate business leaders can evaluate the costs and benefits of various opportunities, such as expanding operations, launching new products, or securing funding. This leads to more sustainable growth.

Regulatory Compliance: Knowledge of financial regulations and tax laws ensures that businesses remain compliant, avoiding penalties and fostering trust with stakeholders.

The Role of Xettle Technologies in Financial Empowerment

One standout example of a technology solution driving financial empowerment is Xettle Technologies. The platform offers innovative tools designed to simplify financial management for both individuals and businesses. With features like automated budgeting, real-time analytics, and AI-driven financial advice, Xettle Technologies bridges the gap between financial literacy and actionable solutions. By providing users with practical insights and easy-to-use tools, the platform empowers them to make smarter financial decisions and achieve their goals efficiently.

Strategies to Improve Financial Literacy and Education

Leverage Technology: Use apps, online courses, and virtual simulations to make learning interactive and accessible. Gamified learning experiences can also boost engagement.

Community Programs: Governments and non-profits can play a vital role by offering workshops, seminars, and resources focused on financial literacy.

Integrate Financial Education in Schools: Introducing financial literacy as part of school curriculums ensures that young people develop essential skills early on.

Encourage Workplace Learning: Businesses can offer financial literacy programs for employees, helping them manage personal finances better and increasing overall workplace satisfaction.

Seek Professional Guidance: For complex financial decisions, consulting financial advisors or using platforms like Xettle Technologies can provide tailored guidance.

Conclusion

Financial literacy and education are powerful tools for individuals and businesses alike, enabling them to navigate the financial landscape with confidence and competence. With the integration of technology solutions, learning about and managing finances has become more accessible than ever. By investing in financial education and leveraging modern tools, people and organizations can achieve stability, growth, and long-term success. Whether through personal budgeting apps or comprehensive platforms like Xettle Technologies, the journey to financial empowerment is now within reach for everyone.

[allthebrazilianpolitics]

Low inventory causes expensive dollar to hit Brazilian stores

Retail sector holds minimal inventory; price adjustments likely after first week of January with FX rate at R$6 per dollar

Price adjustment negotiations between consumer goods manufacturers and retailers have progressed in recent days and are expected to resume promptly after year-end holidays, with implementations slated for January. This trend is likely to result in further declines in sales volumes at supermarkets, hypermarkets, and cash-and-carry stores, which have been decreasing since August.

Earlier this month, Valor had already forecasted initial discussions for price adjustments ranging from 5% to 10%. According to two industry executives consulted on Friday (20), food, beverage, hygiene, beauty, and cleaning product manufacturers plan to send new pricing tables between the first and second weeks of January.

The need to replenish stock sold during year-end holidays is prompting retailers to accept these adjustments, according to various retail chains consulted. Both retailers and suppliers have been maintaining low inventory levels for several months due to rising interest rates, which increase the cost of capital.

A retail group with seven supermarket brands decided this month to revise its 2025 budget projections due to this new wave of price adjustments, Valor has learned.

Continue reading.

[aerospacendefense]

Military Shelters Market is Forecasted to Reach US$ 1.2 billion in 2028, Says Stratview Research

The global Military Shelters Market is projected to witness a growth rate of 3.5% annually from 2023 to 2028, with an anticipated size of US$ 1.2 billion in 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Military Shelters Market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report: https://www.stratviewresearch.com/Request-Sample/1591/military-shelters-market.html#form

Report Highlights: Market Size in 2028: US$ 1.2 billion Growth (CAGR): 3.5% during 2023-2028 Forecast Period: 2023-2028 Trend Period: 2015-2020 Base Year: 2021 Number of Segments Covered: 7 Number of Tables & Graphs: 100+ Country-Level Market Assessment: 20

Segment Insights on the Military Shelters Market: The global Military Shelters Market is segmented based on size type, shelter type, installation type, material type, application type, and region.

Based on shelter size type - The market is bifurcated into small shelters (length < 6 meters) and large shelters (length > 6 meters). Small shelters held a market share of more than 50% in 2022 & are the preferred category in the market and are estimated to maintain their huge lead over small shelters in the years to come. Small shelters are also estimated to grow at a healthy pace over the forecast period.

Based on shelter type - The market is also segregated into rigid shelters and non-rigid shelter systems. Non-rigid shelters are soft-wall shelters, made up of fabrics, whereas rigid shelters are hard wall containers or panels. The rigid shelters hold a lion's share of more than 70% in 2022 & are expected to remain dominant during the forecast period. They are of a higher cost majorly due to the integration of various rigid materials and expensive mechanisms. All the major countries usually prefer rigid wall shelters for medical facilities and command-and-control posts. Expandable containers are the most preferred rigid shelter type, usually supplied in the length of 20".

Based on application type - Moreover, military shelters are deployed for serving a wide range of applications including personnel accommodation, command, and control posts, medical facility posts, storage, aircraft hangars, and many more. The study of recent contracts between military shelter manufacturers and defense authorities corroborates that there has been a greater demand for rigid military shelters for the command-and-control post. The command-and-control post accounted for a market share of more than 55% in 2022 & is expected to grow at a fast pace during the forecast period.

To know the most attractive segments, click here for a free sample of the report: https://www.stratviewresearch.com/Request-Sample/1591/military-shelters-market.html#form

Which Region Shows the Most Promising Growth Forecast and Opportunity? The analysis suggests that North America currently accounts for the largest share of more than 45% in 2022. This growth outlook is majorly attributed to the following- • USA having an exponentially high annual defense budget and expenses. The region (North America) is estimated to maintain its indubitable lead in the years to come. • On the basis of region, Asia-Pacific is supposed to witness the fastest growth in the forthcoming years, primarily propelled by China, India, Japan, and South Korea, the key military spenders of the region.

Military Shelters Market Drivers: Some of the key drivers listed in the report are given below. • The defense industry has exhibited significant growth over the past few years with almost every country increasing its military expenses and budgets. • The demand for military shelters has also considerably grown in the wake of surging military and humanitarian operations/missions. • Currently, the manufacturers of military shelter structures are focused on the development of lightweight, portable, and cost-efficient systems. • Over the eons, the major shelter manufacturers have switched to composite shelters aiming at greater durability, cost efficiency, and lightweight, some of the most urged requirements from defense authorities. • As a result, it is anticipated that in the forthcoming years, composites would be the primary material used for the development of military shelters. Top 10 Companies in the Military Shelters Market:

Stratview Research has identified the following companies as the top market players: • General Dynamics Mission Systems, Inc. • Marshall Aerospace and Defence Group • AAR Corp. • Kratos Defense & Security Solutions, Inc. • Anchor Industries, Inc. • Weatherhaven Global Resources Ltd. • HDT Global • HTS tentiQ.

What Unique Insights Does this Report Offer? This report provides comprehensive insights into the Military Shelters Market, answering critical questions like: • How big is the sales opportunity? • Which regions offer the best sales opportunities? • Which are the most attractive market segments? • Which are the top players and their market positioning? • How complex is the business environment? • What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports: • Soft Wall Military Shelters Market: https://www.stratviewresearch.com/1592/soft-wall-military-shelters-market.html • Military Biometrics Market: https://www.stratviewresearch.com/1186/military-biometrics-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries. It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions. Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.