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Hourly budget & comparison with actual hours with the Workload Sheet
Hourly budget & comparison with actual hours with the Workload Sheet

Understand how to create a detailed budget based on hours and learn where to compare actuals with the detailed budget

Claudette Albers-Reid avatar
Written by Claudette Albers-Reid
Updated over a week ago

Within your project, you can now do a full calculation of your project's budget and compare with your actuals once the project is started.

Workload sheet

In your project contract, click the ellipsis button and select Workload sheet:

You will land in the Workload sheet of your project. To start building your budget, click the Add all lines or Add new line button in the top-right corner of the screen:

If Add all lines has been selected, the following Confirmation message box will appear:

Click Proceed.

If only one contract line is required, the following dialog box will appear. Select the contract line where you want to define a detailed budget:

Click Save.

Either one of all contract lines will be displayed in the Workload sheet:

To create a budget line for your contract line, click the + icon:

Complete the following fields based on the explanation below:

Field

Description

Member

If you already know who your resource/team member will be, you can specify them for this budget line or leave the field blank.

Project role

In order to build your budget, you will need to specify a project role. If you haven't specified a team member in the previous step, PSOhub will display the standard roles of your organization and use the standard rate of this role. (refer to Roles & Rates in PSOhub settings).

If you have selected a team member, PSOhub will display the project role(s) of that person and use the project rate associated to the project role you will have selected.

Description

You can add a description to further define this budget line.

Rate

This field can't be modified and is based on the project role you have selected.

Once you are done, click Save. Your new budget line will now be displayed:

There are two ways to budget hours:

  1. Hourly budget per month per team member/role; or

  2. Provide a total of hours and later define how the hours will be distributed across a number of months.

Both will be explained below.

1. Budget hours per month

Enter the number of hours per month for this budget line. You can navigate from one month to the other using the Tab key. PSOhub will automatically calculate the value of the budgeted hours.

In the example below, the Support Agent has been budgeted or planned for several hours between July and December, totalling 120 hours. In the workload sheet, you will see the total hours and the value of those hours based on the hourly selling rate of the Support Agent:

Note: The Total hours and Amount values are not rounded up in the Amount rows:

To navigate to the next year, simply click the left and right green arrows located next to the year.

If you click the Timeline button, PSOhub will display your budgeted hours on a timeline:

Once you are done, you can decide to update your contract lines with this budget.

Click Update budget located at the top-right corner of the page:

PSOhub will ask that you confirm this action:

Click Proceed and navigate back to the project by clicking on the orange back arrow button.

In the CONTRACT tab of your project, you will find the Budget column of for the Support contract line has been updated with its budget:

2. Total budget hours

As of July 12, 2022, the Workload sheet has been improved where you can also plan hours as a bulk amount in the Total column and then distribute the hours at a later date. Prior to this release, the Total column was inactive.

In the example below, the Additional service contract line has been added with a Consultant role and hourly selling rate. In the Total column 80 hours has been added:

In the Budget hours per month example above, a total of 120 hours were planned for the Support Agent, across the months July - December. This action will lock the Totals field, preventing the value from being modified and disturbing the monthly budget.

However, in the event that the planned hours cannot be confirmed per month but you know the total bulk budgeted hours, this value can be added in the Total field, resulting in the month fields becoming locked. This approach is ideal when creating quotes (or statement of work) where in the early sales cycle, the final planning is to be finalized at a later date:

When you're ready to distribute the hours across several months, you can click on the edit button. The Divide the hours dialog box will appear, confirming that the Total field is locked and select one of the two options:

  1. Divide the 80 hours across a select series of months for the year

  2. Manually enter the hours per month.

With option 1, select the start and end month to equally divide the total hours.

With option 2, the Total value is set to 0 and the month fields will unlock, allowing you to fill in the hours per month:

Click Save to see the distributed hours.

Budgeted hours vs Actual hours

Once the project is Active and users book hours, you can view the results of the budgeted (planned) hours versus the actual hours booked.

If there is a risk of users or lines exceeding the budget they will be coloured in orange or red, based on your budget alerts. You can also toggle between the Hours or Amount analysis buttons:

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