How can you optimize mechanical design projects for time and budget?

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Mechanical design projects often involve complex and interrelated tasks, such as conceptualization, modeling, simulation, testing, and fabrication. These tasks require different skills, tools, and resources, and can pose various challenges and risks for time and budget management. How can you optimize your mechanical design projects to deliver high-quality results within the constraints of time and budget? Here are some tips and best practices to help you plan, execute, and monitor your mechanical design projects effectively.