Published October 2024
Budget, Resource Planning and Actuals
With PSOhub, you have the remarkable ability to view your Budget (baseline), Planning (ETC), and Used (time entries) all together in one place.
Directly within your project, the Resource Planning module will display your Budget, Planning and Overall Capacity.
Toggling to Actuals will add to this view the actual number/value of the time entries.
When reviewing a project, any adjustments to the number of hours estimated to complete the different phases/deliverables will be done in the project's Resource Planning. This is where you will add/reduce the number of planned hours, reflecting the updated ETC.
This can be achieved directly within your project or via the Resource Planning module, where you will find the budget (baseline) and capacity of your resources.
It can also be done via the Project Planning module, where you have the overview of planned hours vs used and where you can drill down to the detailed resource planning of the project.
The summarized view of all three key components (Budget, Planned and Used hours) is found at the project level in the Contract tab with the view Planned vs Used Hours
Here, you’ll gain instant visibility into your KPIs.
Each element holds equal importance and must be met at the same level, i.e., the contract line level. Therefore, your project structure is key in determining the level of granularity you choose for managing the project. Where you have defined a budget, it’s essential to track what has been used so far and the estimate to complete.
Resource Planning, Capacity Overview & Utilization
When planning resources on a timeline, it’s important to consider the different deliverables or phases (contract lines) of a project individually, rather than handling them unilaterally, as the weighted hours cannot be evenly distributed across multiple months. This approach would fail to provide an accurate picture of your capacity.
Furthermore, timely planning is essential to ensure that future assignments can be scheduled based on an accurate capacity overview, one that reflects the entire project, not just the upcoming weeks. PSOhub supports daily, weekly and monthly views, which gives you the possibility to start with a high-level plan outlining what’s ahead, then, as needed, to break it down into weekly or daily details when or if necessary.
Accurate and timely planning is also crucial to assess resource utilization, determine if your organization is meeting its utilization targets, and support the organization’s financial health. With PSOhub's Utilization report, you get instant visibility of your whole organization, teams or individuals' utilization target and results.
One final, yet crucial, element is the need to monitor your progress to determine if your hours are ahead of or behind your completion targets. Learn more about completion management and task management in this article below.