Phase Budget | Online Help | Zoho Projects

Phase Budget

In Zoho Projects, users can allocate specific budgets to individual phases within a project. This helps in tracking and managing costs associated with each significant phase or goal of the project.

Use cases 

Software development/ IT: Overall project budget for website creation is $25000. Budget to design the website is $7000. Project manager needs to ensure that the design expense doesn't exceed the budget.

Construction: Laying of foundation in a construction site is an important phase. However, the budget of this phase is $75000. The site engineer needs to ensure that the expense doesn't overrun the planned budget.
 
Event planner: Event venue decoration cost is set with a $5000 budget. Event organisers need to ensure that this milestone doesn't cross the estimated budget.

Benefits

  1. Manage expenditure of specific phases in a Project.
  2. Provides prior planning by setting clear budget constraints.
  3. Allocate funds to crucial project phases.

View Budget in a Phase

View the planned versus actual cost and cost variance details in the list and detailed view of a phase. This is available only if the budget is enabled in the setup page. After enabling the Phase budget, you can view the difference column, which will show the difference between planned and actual hours. The Cost Variance column will highlight the difference in planned and actual cost. Learn more about creating a budget.

Phase Based Budget

Create budget at a phase level and track project budget as a sum of all phase costs. Project budget threshold will be calculated based on phase budget threshold.
  1. Create a new project. You can also enable budget by phase by editing an existing project.
  2. Scroll to the Budget section in the new project form.
  3. Click on the Project Budget drop-down.
  4. Click the Budget Type drop-down.
  5. Select Based on Phase.

Create Budget for a Phase

Phase budget can be set while creating and editing a phase, which can be viewed from the phase details page.
  1. Navigate to the Phases tab in a project.
  2. Click Add Phase in the upper-right corner.
  3. Enter the phase details.
  4. Fill-in the Phase Budget and Budget Threshold fields.
  5. Click Add.

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