Problem: As discussed in class, the objective of the time-phased budget is to determine the cash flow needs of the project. In order to create a time-phased budget, you need to estimate when the work will be done. Refer to the example we discussed in class for guidance on how to do this. With respect to contingencies, it is acceptable to include them at the beginning of the project, end of the project or spread them out over the project's duration. You can decide which approach you feel is most appropriate. Lastly, ensure your time-phased budget has the same total cost as your aggregate budget.