How would an increase in the cost of steel (one of the components of reinforced concrete) impact the budget that you had developed? 

An increase in the cost of steel would impact my budget in that I may have to adjust my budget allocations for materials and labor as well as other associated costs such as transportation. Depending on how much steel prices increased, I may be able to absorb some of the extra costs but there is a risk that this could put me over-budget if it increases by too much. Additionally, if the overall price of reinforced concrete increases due to higher steel prices, then this could lead to delays in construction due to insufficient funds or an inability to source raw materials at an affordable rate.