Project Budgeting
-Make sure document your assumptions when putting together your budget. These can be important when tracking your project and reviewing the outcome.
-Build some contingencies into your budget for unexpected costs and delays. But don't over inflate your budget too much or you may never get the project started.
-Make sure you have an accurate understanding of your resources and the costs associated with those resources. Don't forget to include maintenance for machines and equipment. For individuals, be sure to add time off, overtime, insurance and other overhead numbers if needed.
-Watch your time estimates don't underestimate the time it will take to complete tasks. This can run into scheduling conflicts which will ultimately blow your budget.
-Use your budget to track your performance and to communicate with other departments before, during and after your project.
MY ASSUMPTIONS
-Scope,Financing,Resources,Technology,Scehdule,Customers
Project Lead: [Name] Start Date: Date BUDGET 1,300.00 ACTUAL 750.00 Under(Over) $ 550.00 Total $ $ Labor Hrs Rate Materials Units $/Unit Fixed Costs WBS $ 8,0 10,0 $12.50 $11.25 25.0 $4.50 $50.00 $250.00 Budget 1,300.00 262.50 362.50 675.00 750.00 150.00 400.00 200.00 Under(Over) $ 550.00 112.50 (37.50) 475.00 30.0 $22.50 1.1 1.2 1.3 1.3.1 1.3.2 1.3.2.1 1.3.2.2 1.3.3 1.4 1.5 Task [Level 1 Category 1 [Level 2 Task 1 [ Level 2 Task ] [ Level 2 Task 1 (Level 3 Task 1 (Level 3 Task ] [Level 4 Task) [ Level 4 Task 1 [ Level 3 Task) [Level 2 Task) (Level 2 Task ] [ Level 1 Category] [ Level 2 Task) (Level 2 Task ) [ Level 2 Task ] [ Level 3 Task] (Level 3 Task] (Level 4 Task) (Level 4 Task ] [Level 3 Task 1 [ Level 2 Task 1 (Level 2 Task) [ Level 1 Category 1 [ Level 2 Task] 2.1 2.2 2.3 2.3.1 2.3.2 2.3.2.1 2.3.2.2 2.3.3 2.4 2.5 3 3.1 Project Lead: Name Budget Actual Under(Over) 1,263 $ (163) Start Date: 1/22/2042 $ 1,100 $ Hrs Labor Rate Materials Units $/Unit Tasks Fixed Costs Travel Material Other $ $ 8 | $ $12.50 $12.50 25 54.60 300.00 300.00 Budget 1,100 200.00 400.00 200.00 Actual 1,263 400.00 112.50 250.00 Under(Over) $ (163) (200.00) 287.50 (50.00) 25 250.00 500.00 300.00 500.00 (200.00) - $ Phase or Category Title Task Task Task Sub Task Sub Task Sub Task Task Task Phase or Category Title Task Task Task Task Task Phase or Category Title Task Task Task Task Task (1) Project Management (1.1) Project Planing (1.2) Project Resource management (1.3)Project Scope management (1.4) Project Estimation management (1.5) Project Risk management (1.6) Project Scheduling management (1.7) Project implementation management (1.1.1)Make a blue print of the project (1.2.1)Allot labours as per their skills for various activities. (1.3.1) Identify the scope of capacitie required for assembling solar panel in a car (1.4.1) Determine the cost of various assets required for installing solar panel in a car (1.5.1)Identify the situations when the solar panel would not work (1.6.1)Determine the time horizon for all the activities of manufacturing and assembling of the car (1.7.1)Start with the production and assembly of the car. (1.1.2)Decide various activities of the project (1.2.2)Allot material and the equipments to each labour (1.4.2) Decide on whether to make the solar panel in the facility itself or purchase from some other supplier of solar panel (1.3.2) Determining the various features of the project of assembling the solar car such as how solar panel will work in a car and how it will reduce the fuel and electricity consumption. (1.5.2)lf solar panel does not work, what will be the alternate source of fuel for making the engine of car to run (1.6.2)Determine the machines to be mounted on a particular manufacturing and assembly section (1.7.2) Install solar panel at the solar panel assembling station on the car. (1.1.3)Organise the activities components of solar system such as PV cells, Modules, systems.co mponents and (1.4.3) Determine the cost of other resources required for installing solar panel in a car (1.5.3)Determine the process of switching from one energy source to other. (1.6.3) Determine the shifts and the schedule of the resoucesnsupply in the assembly line. (1.7.3) Quality Test the input of the alternate source of fuel to the car engine. (1.1.4)According to the stations of the car assembly (1.2.4)Provide quality standards for each component. (1.7.4)Run The Car (1.1.5)Identify the resources for implementation of the project Page 1 1 1 0 + Project Lead: [Name] Start Date: Date BUDGET 1,300.00 ACTUAL 750.00 Under(Over) $ 550.00 Total $ $ Labor Hrs Rate Materials Units $/Unit Fixed Costs WBS $ 8,0 10,0 $12.50 $11.25 25.0 $4.50 $50.00 $250.00 Budget 1,300.00 262.50 362.50 675.00 750.00 150.00 400.00 200.00 Under(Over) $ 550.00 112.50 (37.50) 475.00 30.0 $22.50 1.1 1.2 1.3 1.3.1 1.3.2 1.3.2.1 1.3.2.2 1.3.3 1.4 1.5 Task [Level 1 Category 1 [Level 2 Task 1 [ Level 2 Task ] [ Level 2 Task 1 (Level 3 Task 1 (Level 3 Task ] [Level 4 Task) [ Level 4 Task 1 [ Level 3 Task) [Level 2 Task) (Level 2 Task ] [ Level 1 Category] [ Level 2 Task) (Level 2 Task ) [ Level 2 Task ] [ Level 3 Task] (Level 3 Task] (Level 4 Task) (Level 4 Task ] [Level 3 Task 1 [ Level 2 Task 1 (Level 2 Task) [ Level 1 Category 1 [ Level 2 Task] 2.1 2.2 2.3 2.3.1 2.3.2 2.3.2.1 2.3.2.2 2.3.3 2.4 2.5 3 3.1 Project Lead: Name Budget Actual Under(Over) 1,263 $ (163) Start Date: 1/22/2042 $ 1,100 $ Hrs Labor Rate Materials Units $/Unit Tasks Fixed Costs Travel Material Other $ $ 8 | $ $12.50 $12.50 25 54.60 300.00 300.00 Budget 1,100 200.00 400.00 200.00 Actual 1,263 400.00 112.50 250.00 Under(Over) $ (163) (200.00) 287.50 (50.00) 25 250.00 500.00 300.00 500.00 (200.00) - $ Phase or Category Title Task Task Task Sub Task Sub Task Sub Task Task Task Phase or Category Title Task Task Task Task Task Phase or Category Title Task Task Task Task Task (1) Project Management (1.1) Project Planing (1.2) Project Resource management (1.3)Project Scope management (1.4) Project Estimation management (1.5) Project Risk management (1.6) Project Scheduling management (1.7) Project implementation management (1.1.1)Make a blue print of the project (1.2.1)Allot labours as per their skills for various activities. (1.3.1) Identify the scope of capacitie required for assembling solar panel in a car (1.4.1) Determine the cost of various assets required for installing solar panel in a car (1.5.1)Identify the situations when the solar panel would not work (1.6.1)Determine the time horizon for all the activities of manufacturing and assembling of the car (1.7.1)Start with the production and assembly of the car. (1.1.2)Decide various activities of the project (1.2.2)Allot material and the equipments to each labour (1.4.2) Decide on whether to make the solar panel in the facility itself or purchase from some other supplier of solar panel (1.3.2) Determining the various features of the project of assembling the solar car such as how solar panel will work in a car and how it will reduce the fuel and electricity consumption. (1.5.2)lf solar panel does not work, what will be the alternate source of fuel for making the engine of car to run (1.6.2)Determine the machines to be mounted on a particular manufacturing and assembly section (1.7.2) Install solar panel at the solar panel assembling station on the car. (1.1.3)Organise the activities components of solar system such as PV cells, Modules, systems.co mponents and (1.4.3) Determine the cost of other resources required for installing solar panel in a car (1.5.3)Determine the process of switching from one energy source to other. (1.6.3) Determine the shifts and the schedule of the resoucesnsupply in the assembly line. (1.7.3) Quality Test the input of the alternate source of fuel to the car engine. (1.1.4)According to the stations of the car assembly (1.2.4)Provide quality standards for each component. (1.7.4)Run The Car (1.1.5)Identify the resources for implementation of the project Page 1 1 1 0 +
