Task Budget | Online Help | Zoho Projects

Task Budget

Create task-level budgets and track the project budget as the sum of all task budgets. The project budget threshold will be calculated based on the task budget threshold, and both will be updated every three hours for the project. Click Calculate Now () on the project dashboard to update the threshold. Task budget can be set based on either amount or hours.

Benefits

  1. Track budget by task amount or hours
  2. Can be compared with the actual cost/hour of tasks

Use case

As the marketing manager in charge of launching a social media campaign with a $5,000 budget, it's crucial to maintain budget accuracy and address potential risks or overruns. To achieve this, divide the project into five tasks, each with estimated costs and durations. Allocate specific budgets for each task; for example, designate $1,500 for "Create Social Media Content." Track task costs by selecting the task as Billable.

For example, if "Create Social Media Content" takes 20 hours, the cost would be $1,500. Regularly compare the task budget with actual costs to identify risks. If the actual cost for this task is $2,000, indicating a $500 overrun, consider adjusting the task scope or allocating more resources. Ensure the project budget remains current by updating the budget threshold every three hours.
Feature Availability: Premium and Enterprise plans. Also available for CRM Plus and Zoho One users.

Prerequisites

  1. Budget should be enabled for the project or your portal should be integrated with Zoho Invoice / Zoho Books.
  2. Budget type of project should be based on Task Amount / Task Hours.

View Budget in Task

View the planned versus actual cost and cost variance details in the list and detailed view of the task. You can only view this if budget is enabled in the setup page. If your project is based on hours, then the Difference column show the difference between planned and actual hours. If it is based on the amount then the Budget Balance column will highlight the difference in planned and actual cost.

Planned cost for a recurring task will be multiplied by the number of occurrences and added to the task list. Learn more about creating a budget.

Set Budget for a Task

  1. Create a new project. You can also enable task budget by editing an existing project.
  2. Scroll to the Budget section in the new project form.
  3. Click on the Budget Type drop-down.
  4. Select Based on Task Amount/Based on Task Hours.
  5. Enter other project details and click Add.

Create a Budget for a Task

  1. Select a project from the Projects tab in the left navigation panel.
  2. Click the Tasks tab in the top band to open the List or Gantt view.
  3. Click Add Task in the top-right corner.
  4. Enter the task details.
  5. Fill in the Task Budget and Budget Threshold fields.
  6. Click Add.

The Cost Per Hour field will be available if the Project Budget is tracked based on Task Amount and the billing method is based on Task/Issue hours.

Track Budget Health

Navigate to the task module, click  and select Overrun from the Budget Health field. The log hours can be marked as billable if a cost is charged to the client or as non-billable to indicate that the hours are not charged. When team members log time for the task, it will automatically calculate the actual cost of the approved billable hours. This updates the budget in real time.

At Risk : (Actual < Budget) && (Forecasted (cost/hours) > Budget)
Overrun: Actual (cost/hours) > Budget
Surplus : Forecasted (cost/hours) <= Budget

If a task budget is not set, the planned amount/hours will be considered to track the budget health.

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