Deltek Vantagepoint Help

Using the Help Search
Using the Help Search
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Create a Project Plan and Budget

Planning and budgeting are important elements in a project's success.

The project plan defines the project goals and objectives, specifies the tasks and identifies resources, and defines timelines for completion. The project plan defines all the work in a project, and it identifies who will do it. Every Vantagepoint project automatically includes a plan in Hubs > Projects > Plan.

The project budget is a tool used by project managers to estimate the total cost of a project. Hours and amounts entered on the Budget form in Hubs > Projects > Budget display on the Vantagepoint Budget Worksheet report as well as many other project-related reports. One advantage of using the Budgets form is that if you establish labor budget amounts for a project, you can use the budget validation options on the Accounting tab of the Project form to automatically validate time records against budget based on the labor codes the employee entered on their time records. If an employee enters labor amounts that go over the budget amount, they will receive either a warning or an error message. Another advantage of entering budget amounts early in the project lifecycle is that the ability to compare budget to actual amounts can help detect potential project cost overruns.

If you have created a project budget and a project plan, when it's time to run your various project reports, several reports will give you the option of selecting your budget source. You can choose to use either the project budget or the project plan to compare to actual amounts spent on the project.