This article provides an overview of various budget methods including total hours, task hours, and total costs, and explains how to use each method effectively.
To keep track of a project's progress and to know how many hours or costs have already been incurred and what remains, it's important to choose a budget remaining price method. You can find the budget in the project overview and dashboard, where helpful indicators will alert you by turning red when you exceed the budget.
There are various methods to track your budget, including:
No budget
Pick this if you're feeling carefree and don't want to budget at all.
Total hours
Choose this option if you have one budget remaining price for the entire project. After selecting this option, a new field will appear where you can enter the total budget.
Task hours
If you want to track a budget per task, for example Marketing = 40 hours, Development = 80 hours, you can select this option. After selecting this option, an additional column will appear in the task tab where you can enter the budget per task.Employee hours
If you want to track a budget per employee or team, for example Jan de Vries = 50 hours, Pieter Smit = 90 hours, you can select this option. After selecting this option, an additional column will appear in the Employee tab where you can enter the budget method per employee or team.Total rate
Choose this option if you want to track a budget based on one rate. After selecting this option, a new field will appear where you can enter this amount.Total cost
It's possible to budget based on total costs. You can set a maximum amount to spend on a project to keep it profitable. All hours, expenses, or mileage that are registered for this project contribute to the total cost.