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Create a detailed budget based on task effort
Create a detailed budget based on task effort

How to use task effort to define a project's budget in the workload sheet?

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

Updated 28th December 2023

In PSOhub, you can create a detailed project budget based on task effort, resources and roles. Budgeting at task-level allows you to track smaller pieces of work and generate the project budget. By leveraging task effort, your budget becomes more granular, allows effective allocation of time or resources and bases the budget on categories of work.

For example: A project manager wants more details into budgets and how they are tracked for a project where tasks are categorised into marketing, product and design. By assigning budgets to tasks, you can see how each category is tracking against the budget.

The task effort can be defined in the task board template or once the template has been pulled into the project. The below example is of the task board template; when tasks are assigned to a role and not a resource; the role appears in orange:

When the task board template has been pulled into the project, the effort, resources, roles and dates can be modified. In the following example, the roles have resources assigned to them from the Teams tab and therefore the resources appear in grey:

Important: Task board templates must be related to the same currency as the project's currency. Therefore, the roles and rates need to be set up for the required currencies.

To add the task effort as the budget to the overall project, click on the ellipse button and select Update workload sheet.

Important: If the project's workload sheet already contains a budget, the task effort will overwrite that budget.

The following important message appears explaining which information is required in order for the task effort to be pushed into the workload sheet. The total tasks and total effort will be summarised for you to confirm if it is correct. If any information is missing, click Close to return to the task board and correct it:

Important: Make sure you have the following in your task(s) before updating the Workload sheet:

  • The task(s) have a start and due date;

  • The effort is greater than 0 hours;

  • The task(s) is assigned to at least one resource or role;

  • The task list(s) are linked to the corresponding project's contract line that is not an expense;

  • The task(s) is not a milestone.

When you click Update, you will be brought directly to the Workload sheet. This example displays the budget planning for a project crossing into the following year. This means that the above total of 16 tasks and 256 hours is divided across the months from the current year and next year. The current year has planned 166 hours and the selling amount (based on the total role's selling rate); next year has 90 hours and the selling amount; and the grand total is 256 hours with its selling amount. The year totals are also reflected at the bottom of the workload sheet:

In the top-left corner, underneath the project title, you will see the date stamp of when the task effort was last synchronised:

Best practice is that the workload sheet is Read Only:

If you click the x on the Read Only button, the following message appears:

As the message above points out, any manual modifications made in the workload sheet hours will not be reflected back to the tasks. This is because there is no direct correlation between the monthly planning and the tasks. Also, any subsequent update with effort will overwrite any manual changes made.

To push the task effort budget to the project's contract, click the Update budget button:

The following confirmation message appears:

Click Proceed. Then, click the orange back arrow button to take you to the project's contract:

In the contract, the budgeted hours will appear in the Budget column for each contract line. If the project is in the Proposal stage, the contract lines will appear greyed out until it's set to Active and the project is live:

The project budget in the contract will equal the total in the workload sheet.

With the budget in place, the amount to charge your customer including mark-up can be added to the contract.

When time is tracked against the tasks, the time will be logged against the associated contract line and the running total will be displayed in the project's Used column.

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