Monitoring the budget of a project is very important and should be front of mind for Project Managers. Projectworks helps with that with a page dedicated to the budget of your project. In fact, this screen is so important, it's the default screen for a project.
This first version of the screen focuses on the total budget for your project - a rollup of all project modules (or budget items). As well as letting you know the current state of your budget it also shows your predicted "at completion" position by using a combination of actuals (timesheet and invoices) and projections (resourcing and forecasting).
The left hand side of the screen is all about the total budget. As well as making it clear what the total budget of your project is, it also shows you the remaining budget, as the unworked or uninvoiced amounts
"At completion" projections
Sometimes you focus so much on what is happening "right now" that you can lose track of where your project may end up financially. That's where the "at completion" projections come in. Using a combination of actuals (timesheet data and invoices) and predictions (resourcing and forecasts) it is easy to see where you project is going to end up.
|Projected effort at completion||
|Projected revenue at completion||
|Revenue vs Budget||
|Work effort vs Revenue||
The Current month
Generally speaking the majority of projects operate on a monthly billing cycle. Just like on the resourcing and forecasting screen of a project, the budget screen also keeps track of where the current month is going to land.
|Projected effort this month||
|Forecast to invoice this month||