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- เผยแพร่เมื่อ 20 ก.ค. 2024
- Let’s see how with Mirosoft Project 2019 we create a budget for a project. Budgeting a project is made during the initialisation step of a project and is part of the approval process. Our example is a house renovation project.
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Thank you very much.
Christian
Content
0:00 Introduction
Add / Show summary task
Internal resource / External resource
Budget cost / budget work
08 : 39 Margins in your budget
11 : 23 Choosing a project based on budget
12 : 28 Difference between budget and cost
#msproject #vision6D
*** 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)
#pmp #pmi #project #projectmanagement #scrum #agile #msproject #microsoft #bim #kanban #projet #costs #budget #estimation #WBS #criticalpath #resource #baseline #tracking #control
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You are simply an amazing teacher in Microsoft Project. You can explain the program very well and show examples in a way even ordinary people may understand. I was a project engineer, I appreciate and admire your ability in this area. I have tipped you in another more complicated program, so I would not do it again here. However, if you keep producing such good videos, there is no guarantee I won't do it again in the future(Smile)! DANKE SEHR.
Wow, thanks! Thank you so much for this wonderful comment and thank you so much for the "Super Thanks".
Yes there will be and are many other videos of that quality.
What are the subjects that interest you?
Thank you! Love your session, very easy to follow
Glad you like them! Yes simple is the right word. Have a great day.
Good work, liked it very much. Thanks for uploading, I learned a lot from you. You are a good teacher of MS Project.
Thank you very much! Costs and budget are keys in project management. In which industry do you work?
Thanks for the video, it's very helpful.
Glad to hear that! Have a great day.
Really helpful and just like gaining practical experience
Nice to ear about this. Greetings from Geneva.
Thank you so much for your teaching .
You are very welcome. How are you going to use those knowledge?
you are really great
easy and informative
thanks alot
You are most welcome. Greetings from Geneva.
very explanatory. Thanks
Glad you liked it. In the career of a project manager cost management is a very important part. Therefore, I suggest looking at the module on costs:
th-cam.com/video/AKYCSBrSbBA/w-d-xo.html
Good explanation. This feature exist for a long time, but users still find it hard to understand, why the budget does not summarize at the Project level in Project Information as well, why they have to affect it on the summary task, on the zero task, since they added them in the resource list as well.
Instead , I have a preference to add a budget in Euro and in men days in the Project Customed fields, of Project OnLine. In that way, users do not have to do anything but fill the amount directly in the project field. Then you can do a flash report to compare this budget to the current cost and work at completion.
Thank you for watching the video. Your way to proceed is excellent and I think that your users must appreciate it. Do you baseline your projects with those additional fields and how do you report?
Your videos are underrated, thanks for your help
Glad you like them! Share them. Make them known. Have a great day.
Lol I will do where i can, thanks, they’re a lifesaver with my work
thanks so much!
Glad you enjoyed it! Greetings from Geneva.
Thank you so much
Thank you for watching the video. Have a great day.
Thank you.
You're welcome! Greetings from Geneva.
Hi.... Christian. I like your channel and very helpful for improved my work. Can you please, to make a video for Asta Power Project software. I would like to learn it. Thank you.
Thank you so much for your comment. Thank you for your suggestion I will look into it. Have a great day.
Thanks
You are welcome.
Lifesaver
You are welcome. Greetings from Geneva.
Lol greetings from the UK
Thank you. As a new user to Microsoft project. I have a question regarding the budget work hours. It appears that the budget cost does not Calculate the cost of budget hours. Is this correct or am I missing something?
Thank you for your interesting question. Yes your understanding is right. The budget of work hours is presented in Hours and not in a equivalent monetary value. This is the purpose of my last remark in the video where I explain that you can either present the budget with two components (budget costs and budget work), or you convert the working hours in a cost and you add it to the budget costs. This depends how your organization does it. How do you present budgets in your case?
Would you please do a video on how milestones, deadlines, leads, and lags affects a project, please?
I love your accent! Merci beaucoup!
Thank you for that really nice feedback. So you like my english with french accent tainted with some german intonations?
For the milestones leads and lags it's on the plan how to use them in MS Project. To make sure how I have to understand you question, it's more about what happens in project with leads or lags and deadlines? For example when some issues are happening?
Vision 6D - Yes, we would like to learn what happens when the project goes wrong/bad and how the leads/lags and constraints/deadlines affects the file. Many people say to NOT use date constraints and only use deadlines but why? Thank you! Bien Tot!
Now I get it and the point is very interesting. For the version Project 2016 I created a video about lags and leads. This can already give some answers
th-cam.com/video/6uMVCpuv6i8/w-d-xo.html
When you start a project you should insert margins. This is the way to make it successful. Give a look to the video on margins, it will give some ideas for good practices.
th-cam.com/video/Oo6BtAuXNxQ/w-d-xo.html
please clarify with and example difference between cost and budget cost
Thank you for your question. Budget is what you need to get the project approval. In order to be able to present a budget you must do costs estimates. Once your project is approved and started you need to control the costs. All those three processes can be done with MS Project. How do you see this?
I have 2013 version .. and i have just downloaded this project file but i can not add a resource to the summary task (house - renovation) 🤦🏽♀️
Good that you could download the file. You can look at the version for MsP 2013:
th-cam.com/video/4oP186jqXps/w-d-xo.html
How was it?
What I could not understand is, if I can have baseline and compare actual costs to baseline, that means I am using baseline as budget, so why i need to develop budget too? what additional value I get, that is not provided by baseline?
Thank you for your question.
In Microsoft Project, the budgeted costs are set at the project level and represent the total planned cost for the entire project. The budgeted costs are typically entered by the project manager during the planning phase and are used as a baseline for monitoring the project's financial performance over time.
On the other hand, costs in Microsoft Project refer to the actual costs incurred for completing specific tasks or using specific resources. Costs can be tracked at the task level, resource level, or even at the project level. The actual costs are updated as work is completed and can be compared to the budgeted costs or baseline costs to identify any deviations from the original plan.
Have a great day
Hi Christian
I was watching this video to setup the budget. I added some budget (ensure budget is selected) resources of type Cost and switch to resource usage screen to insert some cost figures. All when ok. Then I switch back to resource sheet to insert more budget resources that I missed. Then I returned to the resource usage I see two things (a) the new resources that I added appear by itself meaning it is not resource name followed by the system name - it is just resource name and (b) the cell to insert the cost is also "grey" not able to insert. Do you know why this is happening? ..puzzled!
Rgds
KR
Thank you for your question.
Do we agree that you can only enter data into budget columns and not in column cost or work?
Resources have to be of type budget.
Otherwise may be keying in the wrong cell.
All this are things that happened to me.
@@vision6D yes resources are type budget n those i added when i switch the second time to resource sheet i am not able to enter their cost in the resource usage also the display of these new resources are different from those that i entered the first time. there is no system name after the resource name . system name i mean the project name.
Hi
I resolved the above issue by deleting all my budget entries in the resource sheet and started fresh again. Then all went smoothly with no problems. Why I had the issue I described above I have no idea - I put it down as one of those things that happens and there is no answer to it for this peculiar behaviour.
Now the question of budget hrs you said MS Project does not allows us to convert to some dollar value because the way it is setup. What I did in my budget for my labour cost instead as defining as "work" I defined as "cost" as well. I know how each labour resource is going to cost me as I know the hourly rate and also how long they are going to work on the project. This is gives me a fix cost of their time. I guess doing this way you get one total cost budget figure in the plan that we can then compare with the plan cost. Hope doing this way is acceptable.
By the way notice a small minor error I am sure you must be aware in the presentation at 12:26 of the video above. You had a display of Total Budget = 91,500 + 44,000 = 95,900 it should be 135,000.
Can you recommend a good report that we can use to compare planned costing with budget costings in MS Project if there is any.
Thanks alot
Rgds
KR
It is absolutely correct the way you did it. Organizations that are just interested by work hours, keep two separated values in the budget, cost and work. When they just want costs, they usually and so do I, estimate in days of work and then calculate the corresponding cost. Then you can create a budget just based on costs.
Concerning my mistake, it is to be understood as 4'400 and not 44'000 as I recall.
Comparing budget and actual costs you do not have a specific ready report. I will give you more information on this in a video about comparing costs (estimated) and actual costs.
Have a great day.
Please can i Assign a weight to a project task
Thank you for your question. You can set priorities to tasks, it could do what you want otherwise you can define your own fields. Do you have a particular case?
The addition of total budget seems to have an error😂😂
Good, Excellent you checked it !! How much is the difference?