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Home » Tracking Tasks » How to make sure your project won't be overspent?
How to make sure your project won't be overspent?  

How to make sure your project won't be overspent?


If you were involved in projects management, you definitely heard that sometimes some projects are overdue and even overspent. An overspent project becomes a problem when there are no enough materials and mental resources involved.  Because of inadequate budget planning, poor task scheduling and resource scarcity, the project manager cannot allocate resources properly and in accordance with current project condition. The issue becomes more complicated when the project manager doesn't realize what processes require re-assignments, extra resources and immediate maintenance. Without clear understanding of the project and its processes, the project manager can make wrong decisions about budget allocation and resource assignment which lead the project to resource overspending.

In order to avert the project from being overspent, the project manager needs to use resource accessing and assignment system like VIP Task Manager . This program is designed to manage projects and tasks in accordance with available resources, mental and material. Custom Filed Creator allows to make calculations and budget allocation. The risk to overspend the project can be predicted and prevented as the project budget is adequately allocated to each task and the whole project. VIP Task Manager keeps a history log for all actions occurred during the project, so you can track budget spending per task.

Action plan:

  1. Run VIP Task Manager
  2. In Tool Bar go to Tools - Custom Fields.
  3. Use Custom Fields Creator to design project budget.
  4. In Custom Fields Creator you can also add a list of KPIs that help track employee productivity. Use formula to add specific calculations for KPI.
  5. Setup KPIs and budget per task and task group by using Custom Field Options.
  6. Use Notifications Panel to track project status.

See also:

 When you are delegated a task, think if you are able to accomplish it

CentriQS Tracking Tasks Solution

Task Time Tracking in CentriQS is very flexible. Users can track time they spend on tasks both manually by entering actual/remaining task duration or adding time logs and automatically by using task timer that adds time logs when you pause or stop it. Task property "Deviation" informs users whether they are "On Schedule", "Ahead of Schedule" or "Behind Schedule" by calculating the difference between "Estimate" and "Actual+Remain".

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