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Budgeting in Project 2010 Standard edition RRS feed

  • Question

  • Hello experts! 

    I am forced to use MS Project 2010 standard edition and I am expecting the tool will help me track program budgeting and your suggestions are appreciated. 

    I have used MS Project but not extensively for budgeting. My requirement is to track multiple resources close to 20 with different start and end dates over a period of time with a fixed budget. (1) Does project 2010 have the ability to track the the burn rate as in money spent till date, remaining money left, estimated total cost, and cost of each resource at any point in time?

    I don't intend to use this to track activities instead use it as a financial tracker. 

    I have started setting up the ms project as in configuring the calendar, entering the start and end dates for each resource, Many resources have availability exceptions such as 4 days a week, scheduled holidays, etc. 

    (2) I am assuming entering the start and end dates for each resource will enable MS Project to calculate cost only for that period? 

    (3) Is there a easy way to record actuals for all resources each week? 

    Any Help is appreciated.

    Tuesday, September 1, 2015 12:23 PM

All replies

  • You are jumping straight into the advanced step of assigning and tracking resources accurately. You will have to track activities otherwise the cost totals to date and remaining will be wrong.

    Assigning resources accurately and getting accurate resource costs over time requires in depth knowledge of Project. Your questions barely touch some of the things you need to cover for accurate resource costing and tracking and I don't have time to cover them all. I don't know what your current skill levels are, but I strongly recommend you get some training.

    Just quickly, start and finish availability dates for resources simply sets when resources are available and has no effect on scheduled dates, so 2) above is not correct.

    There isn't an easy way to track actuals for resources accurately. It is straight forward to do once you have an accurate schedule to start with. It just isn't easy.


    Rod Gill
    Author of the one and only Project VBA Book
    www.project-systems.co.nz

    Wednesday, September 2, 2015 12:00 AM
    Moderator
  • You are jumping straight into the advanced step of assigning and tracking resources accurately. You will have to track activities otherwise the cost totals to date and remaining will be wrong.

    Assigning resources accurately and getting accurate resource costs over time requires in depth knowledge of Project. Your questions barely touch some of the things you need to cover for accurate resource costing and tracking and I don't have time to cover them all. I don't know what your current skill levels are, but I strongly recommend you get some training.

    Just quickly, start and finish availability dates for resources simply sets when resources are available and has no effect on scheduled dates, so 2) above is not correct.

    There isn't an easy way to track actuals for resources accurately. It is straight forward to do once you have an accurate schedule to start with. It just isn't easy.


    Rod Gill
    Author of the one and only Project VBA Book
    www.project-systems.co.nz

    Hi Rod,

    I think I didn't explain the requirement clearly. I meant to say I that I am not going to track all the project tasks and activities in a traditional manner. I don't want to track a huge list. I will obviously be listing key tasks and activities of the project with proper dates. And I am aware that MS Project calculation is based on scheduled tasks! :) . Resources will be assigned to these tasks and activities to track their cost. 

    And, I have a accurate schedule which is baselined. 

    I don't expect project to work with only resources assigned!! :) 

    The purpose of my question was to find out if MS Project 2010 has this ability. 

    Thanks,

    Wednesday, September 2, 2015 1:54 AM
  • Wednesday, September 2, 2015 9:41 PM
    Moderator