A vital part of project management is creating and managing an accurate budget. Use project budgeting template with a well-defined plan to help put together a solid budget. One that will allow to accurately predict your costs and to manage those costs during your project.
This project budgeting template is design for all kinds of projects. Use it for home remodeling, contract work, small community service projects, and even for large IT project budgets. Unless you are doing a multi-year, million dollar project, you probably don’t need to invest in expensive or more complex project budgeting. For tracking spending over the time.
Project Budget Template
This template is for defining a budget by listing expenses on a monthly basis, and you can easily delete or insert more columns for projects of different types of lengths.
Project Budget template excel
- Make sure you document your assumptions when putting together with your budget. These can be important while tracking your project and reviewing the outcome.
- Build some extra contingencies into your budget for unexpected costs and delays. But don’t over inflate your budget you may never get the project started.
- Don’t try and do it all by yourself. Make sure you get input from all the other key individuals and organizations that play a role in delivering the project. They will better be able to provide accurate estimates of the project costs in the areas.
- Make sure you have an accurate understanding of your resources and costs associated with these resources. Never forget to include maintenance for machines and equipment. For individuals, be sure to add off time, overtime, insurance and other overhead numbers if require.
- Watch your time estimates – don’t underestimate the time it take to complete tasks. This can run into scheduling conflicts which will ultimately blow your budget.
- Use your budget to track your performance and to communicate with other departments, during and after your project.