Manage budgets in the creative industries

Business Sectors (Suites): Creative Media Generic Skills
Developed by: ScreenSkills
Approved on: 31 Mar 2019


This Standard is about monitoring the budget against a plan. 

It includes assessing the implications of any necessary re-allocations or re-distributions of the budget and keeping relevant people informed of changes.  Budgets may be internal or external to the organisation.

Performance criteria

You must be able to:

1    monitor and
manage budgets to ensure that resources are being used according to agreed
budget plans

2    ensure that full details of the
administration, control and spending of budgets are made available to
appropriate people

3    identify and record potential problems and
circumstances that could affect budget plans

4    identify and consider additional resources
that could potentially be required and their implications on budgets

5    identify the causes of any significant
variances between what was budgeted and what actually happened and take prompt
corrective action

6    propose revisions to budgets, if necessary,
in response to variances and/or significant or unforeseen developments

7    obtain agreement from the relevant people
about changes to budget allocations

8    use
information from budget monitoring and control to  
        assist in the preparation of
future budgets

Knowledge and Understanding

You need to know and understand:

1    the creative
objectives for the work and how they impact on business objectives
2      the agreed budget, how it is allocated to
cover the different activities and resource requirements and how much it can be
changed without approval
3      the relationship between the budget and
the schedule
4      how to use a budget to actively monitor
and control performance

5      how to give clear instructions and
timescales when requiring others to carry out actions relevant to managing
6      the main causes of variances and how to
identify them
7      the different types of corrective action
that could be taken to address identified variances
8      how unforeseen developments can affect a
budget and how to deal with them
9      who to keep informed about circumstances
that could affect budgets
10    how to negotiate, agree and record changes
to budgets
11    who needs to agree revisions to budgets
12    who needs to be kept informed about
performance against budget and changes to budget
13   the importance of using the implementation
of the  
         budget to identify information and lessons for the 
         preparation of future


Scope Performance

Scope Knowledge





Links To Other NOS

External Links

Version Number


Indicative Review Date

30 Mar 2022





Originating Organisation

Screen Skills (formerly Creative Skillset

Original URN


Relevant Occupations

Arts, Media and Publishing, Production Managers, Production Coordinator, Animation Professionals

SOC Code



Budgets; Monitor; Control