Budgeting (ITILv3): The Activity of predicting and controlling the spending of money. Consists of a periodic negotiation cycle to set future Budgets (usually annual) and the day-to-day monitoring and adjusting of current Budgets.
See also: TBD
Budgeting (ITILv2): (v.) The process of forecasting and controlling expenditure. It consists of a periodic negotiation cycle to set budgets (usually annual) and the day-to-day monitoring and adjustment of current budgets based upon actual or predicted outturns.
See also: Financial Management for IT Services
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