Your project's budget is a reflection of the roles you require to complete the project's scope, and the associated timings and costs. It's an indication of how you are expecting to utilise your people and project funds over the course of the project. 

Runn's project budget feature enables you to rapidly budget a project by adding high-level hour estimates to the roles needed to complete the project. 

Runn calculates the cost per role and the overall project cost based on the charge-out rates you have set-up in your project’s rate card

Having a project budget will help you to schedule and track your project and report on your project's progress. Once your project budget is saved, the budgeted hours and costs will show on the budget panel on the Projects Planner and you can use them to plan out and track your project. See Scheduling a project.

Creating a Project Budget

  1. Select the project you want to create a budget for from the Project list.
  2. Click the Rates & Budget button.
  3. Select the roles you want to put hours against from the Role drop-down. The role's charge out rate will show on the right as a reference. The charge out comes from the rate card you have selected for the project.
  4. Change the Project Rate if the charge-out rate for a role differs from what is listed on the rate card.
  5. You can add your budget estimates using either Hour or Financial estimates. Add your hour estimate for the role in the Time (h) field. Add your Financial estimate for the role in the Budget ($) You will see the subtotal for the role and the Total update accordingly. 
  6. Click the Save button.

Note that the roles and rates used in your project budget are based off the roles you have set-up for your organisation and the rate card you have selected for your project.

Editing a Project Budget

You can edit your project budget at any time. 

  1. Click the Rates & Budget button.
  2. Add or remove roles.
  3. Update fields.
  4. Click the Save button.

Viewing a Project Budget

Once you have added a budget to a project, you can see how assignments will affect your financials and hours. 

You can view the budget from the project's details page:

On the Project Planner, the project will have a ring around the icon. The ring will automatically update as you add assignments. This will indicate how many hours you have available to "fill" from your budget as you plan out your project. 

Further reading 

For more information on how to create a project budget and schedule, read our blog post Building a budget and schedule for your project proposal.

Still have questions? We're happy to help! 

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