Managing Project Budget and Actual Amounts

In the project profile, you can manage budget amounts, actual amounts, and variances. Both the budget calculation method and budget amounts can be adjusted.

Variances are reported in dollar amounts and percentages. Hours, amounts, costs, and expenses are presented in summary. Summarized amounts can be expanded to display the individual workstep amounts that make up the summarized totals.

To examine or edit budgeted and actual amounts, do the following:

1. Open the project profile.
2. Click Budget and Financial > Budget to Actual on the navigation panel.
3. If you want to display cost, gross profit, and net profit in the budget summary, select Track cost and profit in addition to billings.
4. Do one of the following depending on how the budget should be created:
   • Enter budget amounts manually.
     1. Select Enter project budget.
     2. In the Budget summary section, review and edit the actual amounts and variances.
        • Click Show Manual Adjustments to display the Adjustment column and edit budget amounts.
        • Click Recalculate Budget to display the updated budget amounts with any adjustments included.

     Note: If your budgets are created from workstep amounts, you can click the plus signs to expand the summary information and reveal the workstep amounts that make up the summary total. Click the minus sign to collapse an expanded section.

   • Build a budget based on the workstep amounts. This option is only available if worksteps are included in the template.
     1. Select Build project budget from workstep amounts.
     2. If needed, add an adjustment to the total calculated from the worksteps by selecting Adjust by. Then, select either the percentage or dollar amount text box options and enter an adjustment value.
     3. If you selected to track cost and profit, select an option in the Apply adjustment list to indicate what amounts to apply the adjustment to. If you didn't select to track cost and profit, adjustments can only be applied to the budget.
5. Enter an expected realization percentage rate.
6. Click one of the Save buttons or Cancel.

   Button	Description
   Save	Saves the changes without exiting the window.
   Save & New	Saves the changes and opens a new window.
   Save & Close	Saves the changes and exits the window.
   Cancel	Exits the window without saving your changes.