What are typical elements included in a project budget for interiors?

• A. Design fees, construction costs, furniture and fixtures, finishes, IT/AV, permits, and contingencies
• B. Only furniture and fixtures
• C. Only permits and taxes
• D. Only architectural design fees

Answer: (A)

A complete interior project budget covers all the costs needed to plan, design, and implement the space, not just one part of it. The best choice lists design fees, construction costs, furniture and fixtures, finishes, IT/AV, permits, and contingencies. Design fees account for the designer’s time and expertise. Construction costs cover any labor and materials for built elements or modifications. Furniture and fixtures include the items that populate the space, from seating to lighting. Finishes encompass surface treatments like paint, wallpaper, flooring, and paneling. IT/AV covers technology infrastructure and equipment. Permits ensure the project complies with local codes and approvals. Contingencies provide a buffer for unexpected costs or changes as the project progresses.

The other options are too narrow: focusing only on furniture and fixtures misses planning and implementation costs; focusing only on permits and taxes leaves out most of the actual build and procurement; focusing only on architectural design fees omits finishes, FF&E, IT/AV, and other essential budget areas.