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 in real-time.
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 & Roles
Add the total Project Budget to this field
3a. 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
Do not add the Project Roles on the Project Rates tab as they will not be added towards each specific phase. Return to the Budget tab to add the project roles.
3b. Add Role budget per phase
Click on Budget Tab
Expand each phase and add the Project Roles from the dropdown menu
Fill in either Hours per role OR the Role Budget column, Runn will calculate the amount in the other column for you.
You can also click on Hours to switch the unit to Days
The Phase Budget is automatically calculated based on the sum of the Role budget.
How can I add a budget for Other Expenses per phase?
We currently do not support setting a budget for Other Expenses under this Budget Method. If you need to track Other Expenses against phases, please use Phases as the Budget Method.
Can I change to another Rate Card or customize the Project Rates after adding Project Roles?
Yes! You can change the project rates at any time.
Go to Project Rates tab
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
3c. Check over- or underallocation
Once you have added the Phase/Role 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 & Role Budget is less than the Project Budget. There is still room to allocate more Phase & Role Budget.
4. 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).
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)