One of the most important aspects of any project is the budget. If you don't keep a close eye on expenditures you can easily run over, which can have serious consequences. Finding potential problems early gives you the chance to take cost-cutting action before it's too late. Looking for cost problems is quick and easy with Microsoft Office, and you can learn how with this simple tutorial.
While a project is underway you need to keep an eye on Costs.…Project has Tables, Filters, and Reports that help you look at Project Cost and…find Tasks or Resources that cost more than planned.…The first place to look is the Cost table, because it shows cost variance.…So go to the View tab, click the Tables button, and then choose Costs.…Here you can see total cost is the scheduled Costs for tasks.…Then there's the baseline and Cost Variance, if it's negative it means that it's under budget.…
You can see the total cost here is less than the Baseline.…You can look for Tasks that are running over budget with a filter.…In the Filter dropdown list, choose More Filters, then click Cost Overbudget, and click Apply.…Here you see the tasks that have a higher scheduled cost than the baseline.…These are the ones with a positive cost variance.…Another place to look is Tasks that have more work than planned.…To see those, click the down arrow in the Filter box, choose More Filters, and…then apply the Work Overbudget filter.…
Author
Bonnie Biafore
Released
4/18/2013Lynda.com is a PMI Registered Education Provider. This course qualifies for professional development units (PDUs). To view the activity and PDU details for this course, click here.
The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.
- Choosing the right Project edition
- Creating and saving projects
- Setting up calendars
- Creating individual and recurring tasks
- Linking and timing tasks
- Assigning tasks to resources
- Viewing your data differently with sorting, grouping, and filtering
- Fine-tuning the project schedule
- Understanding baseline, schedule, and actual values
- Reporting on the project status
- Sharing projects<br><br>
- The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.
Skill Level Beginner
Duration
Views
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Introduction
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Welcome57s
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1. Working with Project
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Using the Ribbon4m 19s
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Finding commands3m 49s
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2. Setting Up Project Files
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Setting up calendars2m 45s
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Setting basic options5m 27s
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3. Creating Tasks
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Creating a manual task2m 31s
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Creating a milestone task1m 25s
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Creating a recurring task4m 18s
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Creating a summary task4m 8s
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Displaying summary tasks2m 30s
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4. Linking and Timing Tasks
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Linking tasks5m 51s
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Adding lag or lead time2m 46s
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Viewing tasks and task links4m 57s
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5. Creating Resources
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Understanding resources2m 16s
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Creating a work resource8m 45s
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Creating a cost resource3m 21s
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6. Assigning Tasks to Resources
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Finding overallocations3m 56s
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7. Working with Views
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Choosing a view4m 50s
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Working with a table3m 1s
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Using the Timeline view5m 17s
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Sorting tasks and resources4m 27s
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Grouping tasks and resources4m 45s
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Modifying task bar layout2m 48s
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Modifying text formatting2m 52s
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8. Fine-Tuning the Project Schedule
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Reviewing the critical path3m 53s
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Splitting a task2m 7s
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Adjusting a work contour2m 53s
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Leveling resources4m 54s
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Inactivating a task2m 41s
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9. Tracking and Managing a Project
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Adding tasks to a baseline5m 54s
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Updating the schedule8m 45s
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Assigning overtime4m 35s
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Updating costs2m 15s
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Rescheduling unfinished work3m 45s
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10. Viewing and Reporting Project Information
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Using earned value5m 12s
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Printing views and reports4m 22s
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11. Sharing Projects
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Saving to other formats5m 27s
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Importing and exporting5m 47s
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Conclusion
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Next steps56s
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Video: Looking for cost problems