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define your time and cost budget metrics and amounts |
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Budgets are a great tool for keeping a handle on how well your engagements are performing and notifying you when things change. For example, the most my employees can spend on this engagement is $5000. Please track my disbursed costs and notify me when I have consumed 75%, 90%, and 100% of my allocated budget. You can also use budgets along with Projector forecasting to know not only the budget status as of today, but how things are looking by project completion too. Use budgets to identify performance problems early and make corrections. The Engagement Budget tab is where you define your time and cost budget metrics and amounts. You can then view performance to this budget on your Project Dashboard or in reports. Time and expenses are submitted against projects, not engagements, therefore the numbers against the engagement budget are a rollup of the projects underneath it. Because of this Projector also shows all your project budgets on this tab as read only. To edit a project's budget you will need to visit its budget tab. |
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The Topic of the Day: Budgets webinar is a great resource to learn about best practices around creating, tracking and monitoring budgets in Projector. (go to 27:19) |
The engagement budget editor is reached by opening an engagement or project from either the Project Dashboard or the Project Browser. Then select the Engagement Tab | Budget Subtab.
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You will also notice in this screenshot that each project has two rows. One for Billing Adjusted Revenue and one for Contract Revenue. This is because unlike engagement budgets, projects can have multiple metrics.
Customize View
From the dropdown choose your Summary Performance to Budget. The option you choose reflects how you wish to look at the engagement's performance.
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