2.2. Budget Detail
To record costs in the Actual column of Budget categories, we need to create Expense for Project – Sub project – Budget Category – Milestone – Task – Subtask.
- When updating Project Budget, Budget Threshold, Expected Revenue, Expected Cost, Contingency Funds in the above screen, the data will also be updated in Construction Projects.
Profit = = *100 = 86.2165
Revenue Deviations = where n = total number of observations.
= = = 3,189.175
Revenue Deviations = =1,810.825
- Budget categories such as: Labors, Materials, Travels, Equipments, Fixed, Misc are fixed categories in the system. There is no function to create, edit, or delete budget categories.
- The Planned column: allows users to manually enter budget allocation for Milestones, Tasks, and Sub-Tasks-Budget Category.
- The Actual column: will automatically get the actual cost from the expense created related to the project – sub project – Budget Category – Milestone – Task – Subtask.
- The Budgeted column: is the total planned budget for each milestone, task, and sub-task.
- The Actual column: is the total actual budget for each milestone, task, and sub-task.
- The Balance column = Budgeted – Actual