budget at completion (BAC)

The project budget, Budget at Completion ( BAC), a term from project management, is the originally planned total budget. This budget results from the sum of all individual budgets of the project planning. It is the individual budgets for the work and the components within the baseline plan. Individual budgets are assigned to each specific project element, be it the elements, components, activities, and so on. The project budgets are the sum of the costs estimated to complete the corresponding element. They are determined after project completion.