Deltek Vantagepoint Help

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Labor Budgets

Labor is the most significant cost for any project and, as such, the most important element to budget and track.

On the Labor tab of the Budget form, you can budget:

  • Labor hours
  • Labor cost
  • Labor billing amount

Because a project can be under budget in hours, yet over budget in cost or billing, you should budget both hours and cost/billing amounts.

Budget by Labor Code

Budgeted hours and amounts can only be entered by labor code at the lowest level of the project work breakdown structure. For a given labor code, enter the budget at the labor code level most appropriate to the size and complexity of the project.

For example, assume that your enterprise has a three-level labor code, representing department, phase, and staff levels. You may find it unnecessary and time-consuming to create budgets to the third level of detail. Instead of entering budgets for staff levels, you can use a general code (for example 00) in place of the third labor code level.

Another option is to create a multi-level labor code solely for budgeting (for example, BU000) and enter entire project labor budgets using that code. That is why it makes sense that you include a general code for each labor code level when you create your labor code structure.