Adding the Budget Type and Viewing Budgetary Performance
As we continue this example of a budget in Microsoft Project, switch back to the "Resource Sheet" view and then click the "Tools" menu and then select "Customize" and then "Fields." Choose a text field and call it "Budget Type." In the "Calculation for assignment rows" section, choose "Roll down unless manually entered" option and then click the "OK" button.
Add the new field to your resource sheet by highlighting the "Material Label" column, clicking the "Insert" option on the main menu, and selecting column. Find the custom field you just created in the drop down list and then click the "OK" button.
You will now see the "Budget" column appear at the top of your resource sheet. You can define each resource as either a Trips or Human Resources budget item.
The last step is to group the resources of the project based on the "Budget Type" field. This allows us to compare the project's budget to the resources assigned to the project. To do this, change to the "Resources View." Click the "Project" option on the main menu and then "Group by." You want to select the "Customize Group By" option.
In the "Customize Group By" window, select the custom "Budget Type" field from the drop down box on the "Group By" row. Click the "OK" button.
Now, go back to the Gantt Chart view and assign resources to each task and assign a progression to each one. This is necessary to see how the budget tracking works.
Now this example of a budget in Microsoft Project is complete. Click "View" and then "Resource Usage" to see the resources sheet. Here you can compare the budgeted amount for each budget type with the actual usage for each resource.
As resources do work and take trips, you can easily track and print out a report of how your project is performing based on budgetary considerations.
This Microsoft Project tutorial showed you an example of a budget in Microsoft Project. Because this was a tutorial, your actual project will be different, but will apply the same principles used here.
Image Credits: Screenshots taken by Bruce Tyson