A circuit analysis tool is provided, enabled as computer software instructions, for budgeting time delays between integrated circuit (IC) modules. The instructions accept a command enabling an IC floor-plan including a first module and a second module. The first module includes a first circuit element having a signal output interface, and an output port. The second module includes an input port, and a second circuit element having a signal input interface. A command is accepted defining a maximum delay value, and a first delay value is estimated between the first circuit element signal output interface and the first module output port. A second delay value is estimated between the second circuit element signal input interface and the second module input port, and a third delay value is estimated between the first module output port and the second module input port. The first, second, and third delay values are summed, creating a time budget estimate. The time budget estimate is approved if it is less than the maximum delay value.