Budgeting & Planning's budgeting tool emulates Microsoft Excel. Use this tool to create and modify project budgets.
The application’s project budget tool provides an iterative automated process with methods a project manager can use to estimate the burdened costs of work to be done for a customer. The tool emulates an Excel workbook with tabs for the various burden cost pool categories of staff and vendor specified resources that are to be consumed during project execution.
Each tab includes automated methods for accessing staff, vendor accounts and other information necessary for developing resource allocations. Hourly rates, burden factors, project period of performance and available funding are all considered by the tool as per specifications taken from the accounting system. You can load all expected resource allocations and then go through an iterative adjustment process until the burden cost is aligned with funding constraints.
The project budget tool can help project managers establish expectations of performance that reflect funding constraints and help minimize the possibility of cost overruns. For T&M contracts, it can help establish a mix of staff and/or vendor labor resources that meet profit guidelines. The cause of performance deficiencies can be determined by comparing budget versus actual cost. Then corrective actions can be properly determined.
Apply Escalations to Resources
Input data on the following tabs: