manage a budget

Meaning

To control, plan, and keep track of spending to ensure expenses do not exceed the available financial resources. It is a key skill for project managers, department heads, and business owners.

Examples

• As a project manager, you must learn how to manage a budget effectively.

  As a project manager, you must learn how to manage a budget effectively.

• She has five years of experience helping corporate clients manage a budget.

  She has five years of experience helping corporate clients manage a budget.

• It is difficult to manage a budget when unexpected costs keep coming up.

  It is difficult to manage a budget when unexpected costs keep coming up.

• Our department needs someone who knows how to manage a budget of over one million dollars.

  Our department needs someone who knows how to manage a budget of over one million dollars.

• He was hired because of his proven ability to manage a budget under pressure.

  He was hired because of his proven ability to manage a budget under pressure.

Common Mistakes

• ✗ He is responsible to control a budget.

  ✓ He is responsible for managing a budget.

  While 'control' is understood, 'manage a budget' is the standard business collocation. Also, 'responsible for' must be followed by a gerund (-ing).

• ✗ She manages the budget very good.

  ✓ She manages the budget very well.

  'Manage' is a verb, so it must be modified by the adverb 'well' instead of the adjective 'good.'

Related Expressions

Practice

• One of my main responsibilities is to ___ for our marketing campaigns.

  💡 Control the spending of allocated money.

  Show answer

  manage a budget

• If you cannot ___ properly, the project will run out of money.

  💡 Oversee and control expenses.

  Show answer

  manage a budget