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In this video tutorial, Dmitriy Nizhebetskiy from Project Management Basics guides viewers through the process of creating an accurate project budget. He emphasizes the importance of identifying 100% of the project work as the ultimate goal. The process begins with the Project Charter, which informs the development of project requirements. It is crucial to focus only on those requirements that support the project's objectives. Additionally, Dmitriy highlights the need to draft a Project Scope Statement as part of establishing a solid foundation for budget creation. Overall, the video aims to equip aspiring project managers with essential budgeting skills.