Want to create a project budget, track and collaborate with your team in an efficient and time-saving manner? Then I take it that you’ve already scanned through almost every good site on the internet trying to find your best match but were unsuccessful. Expected since it’s difficult to filter the best free project management software from a sea full of choices.
Project Budget is like a lifeline for project managers, it’s like their whole career depends on staying within the project budget.
So what is the project budget?
A project budget is total the monetary value within which you a team have to complete their task, buy related materials and perform activities of the project.
It is easy to decide on a budget and you might not need a tool to create a budget, managing everything within that budget is where things start to go downhill.
How to manage a project budget?
One way to do it is by using free project management software to divide the project between different tasks or points and then dividing it among teams and team members.
Here is a step-by-step process of how you can manage your projects easily:
- Determine the goal and needs of your client
Knowing what you want to achieve through a project and what are the needs of your client works as a driving force within teams. It gives you and your team a clear goal and this way it becomes easier to create an optimal path to reach that goal.
- Break the project into smaller parts
As explained dividing a project within the team can help to increase productivity and reach the desired result in a shorter period.
- Divide the budget
As you divide the task make sure you write down the approx cost it will take to complete that part and try to avoid tipping over the budget.
- Aggregate everything
Now that you have the project and its cost divided bring that all together and calculate whether you can complete the project within the budget or not. In case the answer is no make improvements in your strategy.
- Track your project progress
There are many Project management tools free to download available online for example Acteamo which you can use to make management easier.
To try the features visit Acteamo today!