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- เผยแพร่เมื่อ 20 ก.ค. 2024
- Establish your project’s budget with MS Project in an easy way. For this will go through a simple house renovation project.
You have learnt something, this is great !!! The video helped you solve a problem, prepare an exam, show your gratitude by buying me a coffee: www.buymeacoffee.com/vision6D
Thank you very much.
Christian
Content
0:00 Introduction
1:09 Define budget resources
2:57 Add columns budget cost and budget work
3:46 Use Summary task for budget
4:30 Resource usage view for budget
6:36 Budget on summary task
*** Project Cost Management ***
This is part on a series on project cost management. Where you will find the following topics:
#PM 4.1 Introduction to Cost Management • #PM 4.1 Introduction t...
#PM 4.2 Processes and activities • #PM 4.2 Management and...
#PM 4.3 Project Cost Management • Learn ● Project Cost ...
#PM 4.4 Estimation Introduction • #47.0 MS Project 2019...
#PM 4.5 Estimation Steps • #47.3 MS Project 2019...
#PM 4.6 Estimation Methods • #47.2 MS Project 2019...
#PM 4.7 Costs with MS Project • #3 MS Project 2019 ● ...
#PM 4.8 Determine Budget • #PM 4.8 Budget in Proj...
#PM 4.9 Budget with MS Project • #3 MS Project 2019 ● ...
#PM 4.10 Create a budget report with MS Project(soon)
#PM 4.11 What is the difference between costs and budget
#PM 4.12 Contingency Reserves and Management Reserves (soon)
#PM 4.13 Reserves with MS Project: Margins / Slacks ● Successful Projects • # 21 MS Project ● Marg...
#PM 4.14 Managing and controlling Projects by Earned Value (soon)
#PM 4.15 All Formulas for Cost Controlling a Project (soon)
#msproject #vision6D #pmp #pmi #project #projectmanagement #scrum #agile #msproject #microsoft #bim #kanban #projet #costs #budget #estimation #WBS #criticalpath #resource #baseline #tracking #control
This description contains affiliate links, which means that if you click on one of the product links, I’ll receive a small commission.
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- A Guide to the Project Management Body of Knowledge (PMBOK(R) Guide-Sixth Edition / Agile Practice Guide Bundle (Pmbok Guide) amzn.to/2XLXi8e
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Directed by Christian ALT for www.vision6D.com - วิทยาศาสตร์และเทคโนโลยี
To ease the learning of MS Project I created a new download page on Vision6D.com/download to let you download some of the MS Project files. It will ease the practice with the tutorials. My intention is to extend this in the future when I see that your interest is there. Is this useful?
The world is a better place with educators like yourself! Keep up the good work!
What a nice comment thanks a lot and have a good day.
Thanks alot. Its really helpful. Just following your videos for 3 days now ,my knowledge on MS project is improving on a geometric scale. Thanks again.
Thank you for that nice feedback. This is the way it has to be used.
You efforts are very impressive, you are serving your golden time for us.
Thank you very much. Please keep your teaching continue. it will very fruitful for students and users. I am your new student and learning through your videos.
Thank you for your support and welcome to those tutorials.
Thanks for the great videos! Great effort!
Thank you for that nice comment. Have a great day.
great video,all videos are so useful in Learning MS Project
Thank you for that nice comment, much appreciated. Have a great day.
Thanks for the effort. Amazing way of conveying knowledge :)
Thank you very much. Where are you from? Greetings from Geneva Switzerland.
@@vision6DI am originally from Pakistan but I live in Sydney Australia. I had an assignment project using MS Project. I gained a lot from your amazing teaching skills. keep up the good work. many regards from Sydney Australia.
@@alinaqi9001 Thank you so much. Greetings from Geneva Switzerland.
Hi and thank you for the video. Short, clear and explanatory. The only tiny mistake i've seen in this video is the word Tiled. It's Tiling.
Regards
Thank you for watching and I'll pay attention to my pronunciation. Have a great day.
So So So Lovely Mr. Christain Alt
Nice & clear English , So quite
U R really Instructor
Despite of I'm Software instructor since 2 decade but
wishing to accept me as one of your Student
I have a lot of questions Regarding the budget in Ms project
Thank you for watching and it's nice to meet an other instructor. Just fire your questions.
Thanks So Much Christian
+Ahmed Shaheen you are welcome.
great video, well simplified
Thank you for watching. Have a great day.
Thank you for these helpful videos! My question is why when I add at the Gantt chart the column "Budget Cost" I don't see any currency? Moreover when I go to Resource Usage I just cant fill in the column with the budget cost resources.
Thank you for watching the video. From your information may be the resources are not defined as budget resources?
Next week I have a new version of that video coming out. This point is may be better explained in the new video. The link is the following
th-cam.com/video/ETOAHtLKRB8/w-d-xo.html
The video is already online but only published on Tuesday.
If you still have questions do not hesitate ask and I'll try to be more specific.
Hey,
Working on quite a big project at the moment and i was wodering if you had the oppertunity to help out a bit.
Im working for a municipalitity that only operate with external fixed costs for different tasks (no resource sheet), and some of these tasks has splitted fixed costs with another municipality (they split the cost on a percentage-basis between them. i.e. 50/50.)
How do i in MS-project 2013 split these fixed costs up in the "cost-table" so that each municipality gets their percentage-share of the common cost, and if possible to have aggregation of costs for both municipalitites (summary of both their respective costs in the top table)?
I was also wondering about contingency cost and if it exists, and if it does so; does the money that does not get spent get reflected in the column "variance"? I'm wondering about this since we need to assign for funds for each year, and if the "safe margin(20% extra) on a task does'nt get spent up it will be assigned to the next task, and thus there is not need for to assign for as much money as we though.
Thanks for great videos, you've made my intern job alot easier!
Blessings Nedim D.
How did the project go?
If you are estimating the work hours do you give an assigned monetary value for it to put in the budget or does it just calculate the total hours only?
Thank you for that good question. As you can see in the video it just calculates the number of hours. This was the purpose of this example. But depending on the organisation for which you prepare a budget they can be satisfied with,
costs for everything external and work hours for coworkers.
Some other organisations will request that everything is converted to costs, then you also calculates the number of work hours as a cost. This solution is easier if you want to compare between projects.
If you have further questions don't hesitate to post them. Have a good day.
Nice and simple really good, what would be good would be to see the budget costs in use, for example, to see the actual costs applied through the duration of the project for fixed cost items allowance if you have employees doing the work and you have a fixed budget to manage. Thanks Again appreciate your content
Thank you very much about your suggestion. What you suggest is part of project control and will come in a near future. Greetings from Geneva.
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Bonjour j'ai une petite question : a 2:50 vous ajoutez les colonnes cout budgetaire et travail budgetaire dans le diagramme de Gantt alors que dans les videos en francais vous les ajoutez dans le tableau des utilisation des taches et vous mettez les couts et travail en mode Budget, pourquoi vous ne faitent pas la meme chose ? es ce que le rendu est le meme ? merci de votre reponse.
Bonjour et merci d'avoir regardé les vidéos. Il n'y a pas de différence, le budget étant ce qu'on utilise dans la partie préliminaire d'un projet.
D'accord merci ! Je n'arrive pas a faire cette étape sur mon odi donc c'est bizarre
Hello, I am wondering how could we calculate our budgets with planned Vs Actual with Balance and Variances coming automatically?
Thank you for your interesting question. The subject is really good and I need to think how to resent it in a video. Greetings from Geneva.
Thank you very much sir
You are welcome.
Hi, I want to put a budget in the middle of the project , like I would say The client Will pay half at the beginning of the project and half in the middle of the project. And i want to make sure that the budget i have at the beginning of the project will be enough before the second budget. Can I do that ?
Thank you for your interesting question. The way I suggest would be to create two summary tasks that do not overlap in time, on at the start of the project and the second in the middle. The second one will summaries the budget from this point to the end and the first from the beginning to the middle of the project. Hope this helps and any further question is welcome.
hi, i'm having problem with the resource labeling and cost estimation of a website development. hope you can help.........thanks
+kaigama Adamu if you give me some more information I can help you. And may be some members of the community can also help.
+Vision 6D i was asked by my moderator to create WBS, milestone which i have no problem with but i'm stuck in resource levelling and cost estimation..........you can give example on software development project. thanks
+kaigama Adamu To have an overview of cost estimations if you haven't done it, you can watch our video on the subject th-cam.com/video/drjx84Gsqm8/w-d-xo.html . About ressources leveling I do not have a video at hand with an example in Software development. I'll think about it for may be a futher video. Have a good day.
Thank you
Thank you to you for watching. Have a great day.
Good afternoon, If I have a project with a fixed price and I want to show progress. What are my options? As the Fixed Price is for the entire project not just task.
Thank you for your question. We agree that at that point you aren't any more establishing a budget, but you are into the real cost of the project.
You have fixed costs of the project which means that every time you do a follow up the cost of the project is recalculated. I would make sure the duration are not changed and that no additional resources are added to the project.
TO show progress it's the earned value by your project that is important.
How many task are complete and how many are remaining.
Your question is quiet large and could deserve a long answer, but if you give me more details I could be more specific.
Hi. After one has done the budget and needs to report for budget proposal, How may I put in a proposal for a proposal bid ?
Thank you for watching the video. Is your question on how to write a budget proposal for a proposal bid?
thank you soo much
You are welcome and thank you for watching the video.
Programme have sixteen micro project under and each micro project has budget cost how can we assign the budget cost at each micro project level and then roll up to programme summary level? Also how we can show the budget cost in cash flow or cash review reporting?
Thank you for watching and for your questions. When you say 16 micro-projects I guess that it means that you don't want to many details those projects?
In this case I would create a single project or program that contains the 16 micro-projects. Each of them has sub tasks where you can detail the budget.
MS Project is not the best solution for cash flow reporting, an accounting system is a better solution in my opinion. Hope this helps and gives you some direction. Feel free to give me more details that I can give you a more precise answer.
Have a great day.
gracias!
You are welcome and have a great day.
Dear Sir,
Whats the difference between budget cost and simple cost table. and can you estimate the 400 hours for whole this work.
Thank you for your question. A project follows several stages, at initiation stage we talk of the the project budget before having approval for the project. During the later phases you see the real costs of the different tasks and resources. This are the costs. This is the reason for having a budget column.
Now it's up to you if you prefer to work with budget and costs or if you simply want to work with costs.
Hope this helps and I wish you an excellent day.
Hi Boss
.It seems that U haven't signed the budget type from the Resource Info.
? I mean it is NOT Generic, ?? How it had been accepted
U should have selected Budget first
Thank you for watching the video and for the consideration you showed for budget.
What is the difference between the "Cost" category and "Budget Cost"? I have planned my project using "Cost." MS Project automatically enters resource costs, be they labor, materials, or cost, directly into the "Cost" field. Also, is there a way to create a time-phased budget (or cost) report from MS Project?
Hello,
Thank you for your interesting question. At the beginning of a project we need a budget. In order to prepare the budget we do costs estimates and during the tracking of the project we control costs. As you can understand we use different types of "costs". What MS Project does is help you control the costs in the way you do it. For the budget there is the video on Budget and the 3rd is to help you estimate with Budget costs. Yes you can do a budget by phase. May be I'll do a video on those topics. Which of those costs do you use?
@@vision6D Greetings Christian, thank you for responding to my question. I started my project by establishing my different resources (labor, materials, cost) and set the rates for labor and materials using the Resource Sheet. I then applied these to my activities and MS Project automatically calculated the resulting cost for each activity. However, the "Budget Cost" does not get completed automatically. Do I need to transfer the values from the Cost category into the Budget Cost category?
Thank you for the additional information. Yes you do need to do it yourself
Still I am not getting the way to calculate net profit for the company. How to put rates given by the client and the piece work rates ( cost) to get the profit. MS project analyzing cost only. cost to enter as cost per hour but how to enter cost per unit work ( For example form work - piece rate $10 per sqm. Pls clarify
Thank you for this interesting question. To make sure I understand , what you want is to enter the customer price and your cost for form work and you want Ms Project to calculate the difference isn't it?
why didn't you assign cost to the external resources' hours ?
Thanks for that interesting question. We could have done it as you suggest. The purpose of this example is to show the 2 components of a budget cost and work hours. This is why I kept it simple in order to avoid confusion.
Could you please to let me know weakness of Ms Project Vs excel?
Thank your for your comment. You are comparing two softwares that do not fill the same purpose. If you are able to precise your question I'll be able to give some answer.
Thanks for the video. I wanted to download the file but the download does not work. Is there another way to get the house renovation file? Many thanks.
Let me check. Thank you for the feedback.
can we divide these 400 hr
by the 4 days ???
In case of YES ,,,, What R the best type of relationship
FS (Finish to Start ) may cause some Interruption
We are here in the budget part. Which means we are with those numbers requesting the approval of the project. Those 400 hours were calculated over a longer period than 4 days So I'm not sure to get the question right. Could you give me some more precision?
Yeh , I'm sorry sir..
It seems you have mentioned only the cost of the budget ,distributing of the Time is anther topic , but I'm afraid 400 Hrs may exceed the critical path & may effect the entire cost(s) .
OK good point. To summaries the fact that the work budget is 400 hours and the planning on the other side is showing only 4 days is a concern. I agree with you.
Now at the budget stage the budget is composed of 2 elements direct costs and man cost not billed.
This is the topic of the video.
The planning itself comes later on and then we'll define how to plan the 400 hours of work.
Hope this clarified the point.
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Thanks Remained
very good
Thank you for your comment.
BONJOUR EXPERT
EST CE QUE VOUS POUVEZ M EXPLIQUE L' INDICE VAC et comment l’implémenter dans un planning merci
+Abndelmounaim BENDAOUd le VAC concerne le coût à l'achèvement il montre la différence entre le coût final (à l'achévement ) et le coût planifié.
VAC = Coût planifié - Coût
Par contre pour en montrer son implémentation il faudrait que je fasse une vidéo. Je le mets sur ma liste. De manière générale les indices n'ont pas besoin d'être implémenté. Ils sont toujours présent. C'est le suivi du projet et leurs exploitations qui permettent de faire ressortir un indice.
Bonne journée et merci pour cette intéressante question.
Merci expert pour votre réactivité j attend votre vidéo avec beaucoup d’intérêt cordiales salutations
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Can we add 2 or more budget heads and assign them to project
Hello,
Thank you for the question. What do you call budget head?
Amazing. I am beginner and it was v useful to me.
Thank you for your comment. Glad it could help you.
I am not able to find 7th part of tutorial on you tube will you please share a link for the same
Thank you for being such a careful follower. The number 7 doesn't exist. Have a great day.
Vision 6D....ok thank you...your all videos are so useful in Learning MS Project
Great have a good day.
what you have in here is the allocation of the budget and creating a baseline?
Thank you for watching the video. What do you mean by allocation of the budget?
I saw this "allocation of the budget" in one description of a job that I wanted to apply... and I dont know what in simple words is this?
For me allocation of the budget is the situation when you decide which project is getting it's budget. Hope this helps.
Yes thank you so much for taking the time and answer, You are a blessing...
Thanks, I'm glad it helps you.
i Would have assumed that you would have right click the resources and add the budget definition to them and then assign them to the project summary Task. Well i assume there are more than one ways to skin a cat
Thanks for this interesting comment, and you are absolutely right.
Very good, how to calculate the cash flow
You mean during the project? For this you need to do tracking of your project. Greetings from Geneva.
nice video
So nice! Greetings from Geneva.
how to add resources dramatically after adding just two resources seek bar reading is 4.17
Thank you for your question. What do you mean by to add dramatically?
why isnt the budget work hours calculated as a cost and added into the over all budget cost? For example if your rate was $75/hr. Why wouldnt that calculate out 75x 400 = $30,000. Why isnt this number show and or added to the overall budget cost?
Hello,
Thank you for this question. Your example can be done in that way.
Some organization present for their internal resources, not a cost but a number of day of work or month of work. They use costs for spending where they really receive a bill from a supplier.
Converting internal resources to a cost, as you propose, is done in some other organizations.
To get more on this topic you can watch my video :
th-cam.com/video/2E_3bHDZbNg/w-d-xo.html
@@vision6D Thanks for the repsonse!.. I guess my main question.. I wanted to put my estimate into microsoft PM and then compare it to what the actuals will be. It seems that I can do it two ways. Create a budget or create a baseline. Why wouldnt I just use a baseline every time when I want to compare to actuals instead of the budget. All of the reports use baselines. And it seems faster and easier to just use baseline.
May I ask why are you assigning the resources to the project name (first row in the Gantt table) and not to the tasks themselves ?
Thank you for watching and for your question. We are at the budget level, we do not realy know when and in which order the tasks will be performed. That's the reason we attribute all those costs at the project summary task. We don't have to worry at what time the amount will be spent. Have a great day.
Thanks for your answer.
You are welcome.
Bassel Safwat
yes ?
you only looked at cost and work resources . how do you add material resources
Thank you for your question. May be the more recent version will answer your question th-cam.com/video/ETOAHtLKRB8/w-d-xo.html.
Subscribing helps me grow the channel. Greetings from Geneva.
Is it correct to assign resources to summary task? I dont think so.
Why do you think we can do it?
@@vision6D while tracking we need to track different activities time and cost ,how can we understand which activity has CV, SV etc.how can we present this to management if we are assigning resources to summary task or even wbs?
is it the cost allocation
Thank you for your question. Budget is before cost control.
@@vision6D can you please teach us cost allocation
@@moniparna Cost allocation is more relative to accounting. I appreciate you suggestion since it is a subject I can teach. Which type of costs do you see as examples?
@@vision6D cost resources and material resource.
Can you kindly elaborate on what is a cost resource?
And how to assign such a resource type?
And how to track the baselined cost with budgeted cost?
@@atsukugbe2543 look at this video you'll have everything on resources and specially cost resources.
th-cam.com/video/AKYCSBrSbBA/w-d-xo.html
Greetings from Geneva.