Final answer:
A project budget should be created that considers hourly pay rates and any material or resource costs in order for the project to be financially feasible and effectively managed.
Step-by-step explanation:
A project budget should be created that considers hourly pay rates and any material or resource costs in order for the project to be financially feasible and effectively managed. By accounting for the various costs associated with the project, such as wages and materials, the budget can be used to allocate resources, monitor expenses, and ensure that the project stays within financial constraints. For example, if a project involves hiring workers who are paid an hourly rate, the budget would help determine the total labor costs based on the number of hours worked and the hourly rate. Similarly, the budget would include the costs of purchasing materials or resources needed for the project.