Use budget cost resources in Microsoft Project to allocate a budget


https://youtu.be/zFfEf7hm-Io
One of the features of Microsoft Project is the ability to manage budget resources for your project. Budget resources are cost values that you assign to the project summary task to represent the planned budget for your project. You can use budget resources to compare the planned budget with the actual cost and work of your project.

To use budget resources in Microsoft Project, you need to follow these steps:

1. Create a budget resource for each type of cost that you want to track, such as labour, materials, travel, etc. You can do this by clicking on Resource – Resource Sheet and entering the name and type of the budget resource in the table.
2. Assign the budget resources to the project summary task by clicking on Task – Gantt Chart and selecting the project summary task (the first row in the table). Then, click on Resource – Assign Resources and select the budget resources that you want to assign. Enter the planned cost for each budget resource in the Cost column.
3. Track the actual cost and work of your project by entering the actual values for each task and resource in the table. You can do this by clicking on Task – Gantt Chart and selecting the task or resource that you want to update. Then, click on Task – Task Information or Resource – Resource Information and enter the actual values in the appropriate fields.
4. Compare the planned budget with the actual cost and work of your project by using various views and reports in Microsoft Project. You can do this by clicking on View – Resource Usage or View – Task Usage to see the budget and actual values for each resource or task. You can also click on Report – Dashboards – Cost Overview or Report – Dashboards – Work Overview to see graphical summaries of the budget and actual values for your project. Use budget cost resources in Microsoft Project to allocate a budget. #msproject
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