A large part of effectively managing a project involves staying within budget constraints. While proper distribution of funds can be a dizzying task, especially when you have more important ones to tend to, laying out your budget in a clear and concise manor can take some of the headache out. A project budget template Excel document is an easy and effective way to track which funds are going where, and more importantly how much you have left. It’s also a great tool for forecasting expenditures and tracking actual costs across long term projects. Creating a pain free way to identify and eliminate excess, and save funds.
Manage Your Spending with A Project Budget Template Excel Document
- Start by downloading the free and easy-to-use template available on this page.
- Open the project budget template Excel file into your spreadsheet.
- Next, identify major components for sources of your project costs and enter a description of each into the sub-header areas.
- In the first column of each area enter a description of a specific project task related to the grouping.
- The column to the right identifies the number of labor hours required to complete this task. Enter pertinent data for each.
- Next, decide what your costs are related to each task and identify in the corresponding columns and cells. Identify the labor costs compared to the hours worked.
- After all data about your costs is entered, totals will automatically calculate and fill-in the cells below.
Tips for Using the Project Budget Template Excel Document
- Customize the template to match your specifications and needs. Change the headers and sub-headers to match each aspect of your specific project. Add additional cost columns as the project progresses and more show up.
- Carefully enter data into the cells. Identify which area you are entering data before finalizing, otherwise totals will be erroneous and the template will lose its effectiveness.
- It might go without saying, but the project budget template Excel document is only as effective as much as you implement it. Creating and building methods and guidelines based of its data is up to you and your team.
Download: Project Budget Template Excel