Primavera Project Budget and spending plan

Project Management related primavera project budgeting and spending plan techniques

1. PRIMAVERA Subject: Project CBT

2. BUDGET & ESTABLISHING SPENDING PLAN You can create budget estimates for each EPS nodes, Project, or WBS level, and then refine them as needed . Use the Budget Log tab on the Projects window to enter the original budget—the total amount you require for the EPS node or project . The Budget Change Log helps you keep track of budget changes as they occur. The Current Budget (original budget plus approved budget changes) and Proposed Budget fields (original budget plus approved and pending budget amounts) incorporate these changes so you have up-to-date and accurate budget information for each project or EPS node .

3. BUDGET & ESTABLISHING SPENDING PLAN The Spending Plan Tally column shows any amounts previously recorded for lower-level project spending plans. The current variance is the difference between the monthly spending of the EPS node and its projects' tallies. You can type the benefit amount or profit portion of the monthly amounts; the benefit plan is also tallied . Given following are the steps for establishing Budgets and Spending plan . Activate “ Projects ” view from HOME and select the project and assign original budget as listed in the table below.

4. BUDGET & ESTABLISHING SPENDING PLAN

5. BUDGET & ESTABLISHING SPENDING PLAN The Spending Plan Tally column shows any amounts previously recorded for lower-level project spending plans. The current variance is the difference between the monthly spending of the EPS node and its projects' tallies. You can type the benefit amount or profit portion of the monthly amounts; the benefit plan is also tallied . Given following are the steps for establishing Budgets and Spending plan . Activate “ Projects ” view from HOME and select the project and assign original budget as listed in the table below.

6. EXPENSES Expenses are non-resource costs associated with a project and assigned to a project's activities . They are typically one-time expenditures for non-reusable items. Examples of expenses include materials , facilities, travel, overhead, and training . You can categorize expenses, indicate a unit of measure for expenses, and specify whether an expense accrues at the start or end of an activity or uniformly over its duration. Each expense has a budgeted cost, actual cost, and estimated remaining cost .

7. EXPENSES Expenses are not the same as resources. Resources generally extend across multiple activities and/or multiple projects. Examples of resources are personnel and equipment. Unlike resources, expenses are project-specific. The Project Management module does not include expenses when leveling resources. Resource curves are not supported for expenses.

8. EXPENSES ADDING EXPENSES Steps: Choose Project, Expenses. Click Add. Select the activity to which you want to assign the expense, then click the Select button. Click the General, Activity, Costs, and Description tabs, and enter details for the expense.

9. EXPENSES Adding expenses from the Activities window Choose Project, Activities. Select the activity that incurs the expense. Display Activity Details, and then click the Expenses tab. To display the Expenses tab, click the Layout Options bar and choose Bottom Layout Options . In the Available Tabs section, select Expenses, and then click OK. Click Add, and then type a name for the expense item. Double-click in the Cost Account column. Select the cost account you want to assign, and then click the Select button. Double-click in the Expense Category column. Select the category you want to assign, and then click the Select button .

10. EXPENSES Adding expenses from the Activities window Double-click the Accrual Type column, and then select the expense’s accrual type. Type the number of budgeted units you expect the selected activity to use. Type the price of each unit. The module calculates and displays the expense's budgeted cost (budgeted units * price/unit) in the Budgeted Cost field . To enter actual expense costs already incurred by the activity, type the cost in the Actual Cost field.

11. EXPENSES Adding expenses from the Activities window To automatically calculate an expense's actual cost based on the activity's planned completion percentage, mark the Auto Compute Actuals checkbox. Type the name of the vendor business or organization to which the expense is payable.

12. REPORTING PERFORMANCE METHODS FOR PERFORMANCE REPORTING Reporting is a key part of monitoring a project and communicating its progress to team members and executive management. Two reporting tools are available to access and report information stored in the database: the Report Wizard and the Report Editor . You can use the Report Wizard to easily create a wide variety of customized reports. The wizard steps you through the process of creating new reports, enabling you to select the category of information and specific data fields to include. You can group, sort, and filter project information and include time-distributed data for units and costs .

13. REPORTING PERFORMANCE METHODS FOR PERFORMANCE REPORTING The Report Editor is a powerful tool that enables you to create reports that are highly customized. Although you can create customized reports with the Report Wizard, the Report Editor provides the capability to tailor a report more closely to your specific requirements. The Report Editor enables you to group, sort, filter, and roll up project information . You can preview and print reports and you can save reports as text or HTML files . To view a list of the standard reports, select Tools, Reports, and Reports. To create a new report with the Report Wizard: Choose Tools, Report Wizard. Follow the prompts on each dialog box in the wizard to create the report.

14. REPORTING PERFORMANCE RUNNING AN EXISTING REPORT You can report schedule performance using a pre-defined schedule report .

15. REPORTING PERFORMANCE