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<p>OR it also matters to own a crystal clear vision and good will to achieve something unique and useful?</p>
No. The budget should be set right, more importnat is stakeholder buyin, drive from the business owner and have the right structure in place in line with Project management principles.
If a project is planned strategically, the budget will not go beyond the estimated amount.
All it requires is proper monitoring and an Team leader and the project will go tension free and under the estimated budget.
Success is not require a huge budget if the project is planned considering all the possible problems and planning accordingly.
Its about defining the end objective, developing a road map to reach it and acquiring the correct resources and employing them efficiently. Always set a reasonable margin of error and add it to the overall budget. Going over budget is never justified and shouldn't be.
there is no yes and no here. front end loading and following PMP is the right approach.
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I believe that you should but the budget according to the initiative so you are not over budgeting
