If you already have an overall Project Budget, you can break it down and plan out the workload in Runn, while tracking if your planning is within budget.
1. Add Phases on Planner
From the Project Planner, identify the project you would like to set up the budget
Before adding the budget, create the Phases from the Project Planner first
2a. Add Project Budget
From the Project Planner, identify the project you would like to set up the budget
Click on the 3-dot icon next to the Project Name and select Edit Budget
Select the desired Pricing Model from the dropdown.
For the Budget Method, select Phases
Add the total Project Budget to this field.
2b. Define Project Rates (optional)
By default, the Standard Rate Card is used (i.e. Default Role Rates). Skip this step if you are using the default role rates for this project
If you need to use another Rate Card, click on Project Rates Tab at the top right
Click on Standard (column header of the rates column) to choose another rate card
2c. Add Project Roles
Click on or stay in Project Rates Tab
Add the Project Roles from the dropdown menu
Can I change to another Rate Card or customize the Project Rates after adding the Project Roles?
Yes! You can change the project rates at any time.
Pick another Rate Card, click on the grey arrow to apply the rates of the selected Rate Card
You can also customize the Project Rate per role by manually filling in the fields under the Project Rate column
3a. Add Phase Budget
Click on the Budget Tab
Fill in the Phase Budget per phase
❌ You cannot budget by hours using this Budget Method. If you need to budget by hours, use Phases and Roles as the Budget method instead.
3b. Check over- or underallocation
Once you have added the Phase Budget, Runn will flag you whether you have over- or under-allocated based on the total Project Budget.
Example
In the example above, the sum of Phase Budget equals Project Budget. Budget is fully allocated!
4a. Add Placeholders and Scheduled Hours on Planner
Once you've set up the Budget, you can start adding Placeholders and add scheduled hours (drag and drop assignments) from the Project Planner. Make sure the assignments are linked to a specific phase (the assignment should be in the same color as the associated phase).
4b. Add Other Expenses (Optional)
If there are any non-labour expenses (Other Expenses), you can add them to the Other Expenses Tab
Enter the itemized expenses and associate them with the specific phases
The Expenses will be tracked against the specific Phase Budget
❌ You cannot define an overall Other Expenses Budget using this Budget Method. When setting the Phase budget, please include the budget for other expenses items here.
5. Track if the workload is over or under budget
While we are still working on adding the Budget Remaining per phase on the Planner, you can track the budget remaining for each phase from the Phases panel on the Project Dashboard:
For Time & Materials projects: Budget Remaining = Budget - Revenue
For Fixed Price projects: Budget Remaining = Budget - T&M Benchmark
(Note that you cannot view the T&M Benchmark figure per phase on the phases panel. You can find the information in Reports)