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Project Budget

Each team has a budget of $6500 to purchase materials, supplies, and resources for the project. These resources have been generously donated by the course sponsors.

Working to finish the projects on-time and on-budget are key lessons in the course. The project budget is not compliant. Your teams must plan and work to keep their projects on budget. If there is a budget overrun, each team member will pay an equal portion of the deficit. There will be no budget extensions except under extenuating circumstances.

Lab instructors should help their team plan on how they should allocate financial resources over the term. However, a rule-of-thumb is that teams should reserve roughly $4,000 for the alpha prototype phase of the project (following the mockup presentation).

The budget for each project will be managed by team financial officers, and there is a code of ethics that must be followed when making purchases.