Abillity to track running cost in a project

[Al Lavassani]

I want to be able to track the remaining available budget that I have as the
project progress. I start the project with a defined budget at the beginning,
but I want to track what's the remaing budget as my resources are using
hours.

Currently, I use an Excel sheet where I define the budget, and use a formula
to multiply the no. of hours spent by each resource by rate, then substract
the total from the remaining budget. I don't know how to apply this in
Project. I would like to have a field showing the remaining budget.

Any hint or advice?

Thanks,
Al Lavassani

 

[Dale Howard [MVP]]

Al --

This feature does not exist in Project Server 2003, but I believe you will
be able to do this in Project Server 2007. Hope this helps.

 

[Gary L. Chefetz [MVP]]

Al:

If you 1) setup your resources with the correct cost rates, 2) you estimate
and enter your effort on each assignment so that cost equals your budget
amount, and 3) you set a baseline on your project, then:

Baseline Cost = budget
Cost Variance will show you where you're under and over

You'll be able to view this at the assignment, task, resource or project
levels.