Budgeting is essential to planning of any major business project. Without a well-planned budget, projects can fall apart and be left incomplete. nTask has made keeping your finances in check easier than ever!
Just follow along these simple steps to add budget to your projects.
- Click on the projects from the navigation panel on the left
- Click on the project tile you want to set budget for
- You are now in the project's Gantt view
- Now click the ellipsis (three dots) icon on the top-right corner of the display.
- Click ‘Settings’ from the drop-down menu.
- You are now on the Project Budgeting and Resource Planning screen.
- Here, you can select a currency from the drop-down list on the top left corner of the display. Put in a numerical value for project’s budget in the ‘Budget’ field next to it.
Setting up a project's Budget in nTask
Resource Planning in nTask
- You can also assign a role to each of your resources and associate an hourly cost and the estimated number of hours that the resource will take.
- Doing so will automatically update the estimated cost of each resource and a total estimated cost of the whole project.
Planning a Project's resources in nTask
Actual Project Costs
Actual project costs work on approved timesheet hours that each team member submits to their supervisors. Once approved, the relevant team member's approved work hours will be reflected in the actual project cost shown on the project's Gantt view on the top-right.
Actual Project Costs are calculated by the following formula: Total number of approved hours worked x Resource hourly rate as defined in the Resource Planner
And that’s it!
If there’s anything you feel needs a more extensive demonstration, you can write to us on email@example.com. We’d be happy to assist!