Easy project cost management

project budget management
Step 1: Set project budgets

Effective cost management begins with setting smart budgets during the planning phase. Hubstaff's project budgets allow you to set limits based on time or cost.

project budget estimation & control
Step 2: Control your spending

When a project budget is nearing its limit, Hubstaff notifies you so you can make necessary adjustments. Never let underestimation of the actual costs break the bank again.

Rein in your project costs

Keeping track of time and money spent on project activities and clients starts to get out of hand as you grow. There comes a point when you can't do it any longer, and you shouldn't have to, either. Hubstaff's project budget controls make automatically managing project costs as simple as possible. A project cost management plan is nothing if hired contractors are allowed to put in more hours than your total budget!

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project budgeting software
project cost management

Scalable project cost management

Being able to determine a project's budget status at a glance is critical in managing costs and project planning. As you have more projects and clients, this becomes even more apparent. Hubstaff's simple project cost management lets you put the budget management processes in place so you won't be hindered by your own growth. Managing project budgets doesn't have to be time consuming when you use Hubstaff to control project costs with a few simple settings.

Weekly limits for your team members

Keeping track of your team's time is a big part of effective cost management and staying within the limits of the approved budget and project scope. Hubstaff allows you to set weekly limits so you can prevent team members from working too much and driving up your project costs. You can easily override their limit if you need them to put in extra time. Cost engineering in project management is essential and Hubstaff makes the process of cost control simple and quick to manage.

weekly limits

Proven Project Budgeting Process

time and cost management
Hours or Cost
Set project budgets based on time tracked or total cost
project management cost control software
Pay or Bill Rate
Determine if the budget should be based on the team’s pay or bill rate
project cost estimation
Budget start times
Back date a budget if work has already started on it, or start it in the future
project cost management notifications
Custom notifications
When a project reaches a certain percentage of its budget, you can be notified
current project budget status
Current budget status
Easily see where a budget is currently at with the budget meter
project management budget
Budget details
See details of the budget to know exactly how much has been spent

Hubstaff Helps with Successful Project Planning

There are plenty of methods for effective project cost estimation and management. Some of the most well known include point estimating, reserve analysis, vendor bid analysis, expert judgment, and cost of quality, to name a few. Using similar projects that have been completed in the past as a guideline can be especially effective. No matter what methodology your team uses, Hubstaff's time tracking and project budgets will simplify the process.

 

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