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Projected Task Budgets

 
Default Account Permissions: Account Administrator, Report Viewer with Cost, Report Viewer, or Project Lead

Overview

The Projected Budget calculation will help you optimize job costing by calculating how much you should charge for your tasks. In the Scheduling section of a task's Task Details side panel, you’ll see a suggested budget based on your resource plan.

So, how does this help you?

  • Because the Projected Budget calculation is based on your resource plan and the appropriate bill rate for those Scheduled Hours, it makes it easy to set a realistic budget. This data helps you make informed planning and financial decisions.
  • You'll get visibility into the Projected Budget calculation via the Scheduling section from the Task Details side panel. This visibility helps the person planning the proposal easily set the task budget in the Estimate field of the Time & Fees tab in the Task Details side panel.
  • For projects with rate cards, the bill rate used to calculate the Projected Budget refers to the rate card effective period. In other words, if the resource plan date is in the future and a different rate card version will be in effect, the Projected Budget will use that future rate card for those future hours.

Where to Start

Figuring out how much to charge for a task

First, set up your resource plan to calculate see how many hours your team will spend on the task. You can access the Scheduling section from the Task Details side panel.

Scheduling-Tab.png

From there, begin assigning people on your team to the task and scheduling the hours you expect them to work.Schedule-Resources.png

If you like, you can click on Resource Shaping (“   ”) to distribute the hours evenly over time.

Resource-Shaping-Distribute.png

Once you've scheduled hours, you'll see the Scheduled Hours and Projected Budget update based on your changes. The Projected Budget uses all of your resources scheduled hours and multiplies them by the appropriate bill rate to suggest a budget.

scheudle-plan-budget.png

Now that you know how much the Projected Budget is, you'll have an easier time setting the task budget in the Estimate field of the Time & Fees tab in the Task Details side panel.Budget-Estimate.png

 

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