Project Budget Overview

The Budget module in ScreenDragon is used to plan, track, and manage financial resources for projects. It helps users estimate costs, monitor expenses, ensure budgets are adhered to, and facilitate financial oversight to support project success.

The core functionality of the Budget module in ScreenDragon includes:

• Hierarchical Budgeting: Sub-project budgets can be included within a parent budget, with all costs rolling up to provide a comprehensive overview of the entire project.
• Enhanced Visuals: Budget bars are enhanced with features like the ETC (Estimate To Completion) model, offering better tracking of remaining work and costs.
• Non-Resource Items: Ability to incorporate non-resource costs into the budget, pulled from estimates created during project formation.
• Filtering Options: Users can filter budgets based on phases, date ranges, or other criteria such as costs, spend, and burn rates, facilitating targeted analysis.
• Export Capability: Filtered budgets can be exported for detailed analysis outside the system.
• Financial Views: Dedicated financial views are available both in the project list and resource planner, providing clear financial insights.
• Project Burn Management: Burn rate and expenditure tracking are managed through submitted timesheets, either internally or via timesheet ingestion. User costs are calculated based on roles at the time of timesheet entry.

Accessing the Project Budget

If you have not completed estimates for your project, you will not have sufficient data to review in the project budget module. For details on adding project estimates, click here.

1. Navigate to your project list and click the project name you want to view.
2. Click Project Budget.
3. Your project budget breakdown is displayed. 

Interpreting Project Budget Data

Interpreting data in the Budget Manager helps users gain clear, actionable insights into project costs, spending patterns, and remaining resources. The enhanced information allows for better decision-making, improved financial oversight, and the ability to proactively address potential budget issues before they impact the project.

• Estimate to Completion (ETC) is calculated by adding the actual costs incurred so far to the estimated costs of remaining work. In equation form:

  ETC = Actual Costs + Future Resource Costs

  This provides a comprehensive projection of the total expected cost to complete the project, helping to assess whether the project is on budget and identify any financial risks early.

• The equation (ETC / Original Estimate Costs) × 100 calculates the percentage of the remaining estimated costs compared to the original budget. For example, it shows that "We are currently running at 23.81% of what we’ve budgeted," meaning that the projected cost to complete the project is 76.19% of the initial estimated total. This helps track whether the project is on track financially and if the remaining work aligns with the original budget.
  

Understanding the Budgeted Project Cost 

The Budgeted Project Cost line represents the total estimated cost for the project as approved and locked during the project setup or estimation phase. This value is composed of both resourcing and non-resourcing costs, giving a complete picture of the expected project expenditure. 

What Does the Budgeted Project Cost Include?

• Resourcing Costs: These are costs associated with team members' time, based on rates and booked hours.

• Non-Resourcing Costs: These include additional expenses such as software, travel, equipment, or any other project-related overhead not tied to personnel.

Together, these costs are packaged into one total amount, which is shown in the Budgeted Project Cost column.

Where Does This Figure Come From?

• It originates from the project estimate built during planning.
• Once the estimate is reviewed and approved, the total budgeted cost is locked into the project.
• This figure cannot be edited later in the project lifecycle, ensuring consistency in budget tracking and reporting.

• Key Points to Remember

  • The budgeted cost is set at the start of the project and reflects the total approved estimate.

  • It includes all anticipated costs, not just resource time.

  • Once approved, it is non-editable and serves as the financial baseline for the project.

Understanding Forecast Project Cost 

The Forecast Project Cost represents the current projected cost of delivering the project, based on resource allocations and task assignments to date. Unlike the budgeted project cost, which is locked, the forecast is dynamic and updates in real-time as changes are made to the project plan.

What Does Forecast Project Cost Reflect?

This value is primarily driven by resourcing data—specifically:

• Hours booked to tasks

• Resources assigned to tasks

• New tasks created

• Rate changes associated with specific team members

Because this is a live calculation, the forecast cost can increase or decrease depending on how the project evolves.

Example:
If you originally estimated $23,800 for a project, but then add additional team members or increase hours on existing tasks, the Forecast Project Cost will rise accordingly. Conversely, removing people or reducing task hours will lower the forecast.

Why Might the Forecast Be Higher Than the Budget?

• Additional resources added after the budget was approved

• Increased task hours

• New tasks added to the project plan

• Higher-cost personnel assigned

These changes reflect real-world adjustments and help project managers understand where cost overruns may be occurring.

Key Points to Remember

• Forecast = Real-time projected cost, based on current project setup

• Changes to tasks or resourcing directly impact this number

• Unlike the budgeted cost, the forecast is not fixed and can fluctuate throughout the project lifecycle

• A growing forecast signals increased project scope or resourcing—useful for tracking and controlling spend

Understanding Project Spend to Date and Remaining Project Spend

In Screedragon, project cost tracking is broken down into two key components that help you understand how funds are being used across the lifecycle of your project.

Project Spend to Date

This figure represents all costs incurred up to and including today’s date. It includes:

• Hours logged by team members on tasks with dates in the past or up to today

• The associated resource costs (based on rates and hours worked)

Note: This is a backward-looking metric that shows how much of the budget has already been spent based on actual activity.

Remaining Project Spend

This is the forecasted cost of all future task bookings from tomorrow onward. It is calculated based on:

• Upcoming tasks and future-dated hours booked in the task planner

• Assigned resources and their associated rates

This figure is driven directly by the dates in the Task Planner. If a task is scheduled for next week, its cost will appear under Remaining Project Spend.

How the Dates Drive Spend Calculations

The task dates in the Task Planner determine how hours and costs are split between past (Spend to Date) and future (Remaining Spend):

• Tasks scheduled before or on today contribute to Spend to Date

• Tasks scheduled after today contribute to Remaining Spend

Understanding Project Burn to Date 

The Project Burn to Date reflects the actual hours worked on a project, as submitted through timesheets. It is a key metric used to track how much of your project budget has been consumed by real, recorded work.

What Drives Project Burn?

Project Burn is powered by timesheet data, which can be entered or imported in two main ways:

1. Manual Timesheet Entry
   Users can log time directly within Screedragon:

   • Navigate to the Timesheet section.

   • View the projects and tasks you've been booked on.

   • Enter your time against the appropriate days and tasks.

   • Submit the timesheet for approval (if required).
     Click here for information on how to submit timesheets.

2. Automated Import
   Timesheet data can also be imported from external systems using:

   • API

   • SFTP flat file uploads

   • Other ingestion methods

3. These imports can occur daily, weekly, or on a custom schedule depending on your organization’s setup.

How Does It Affect the Project?

Once time is submitted (and approved, if applicable), it contributes to the Project Burn to Date and updates:

• The actual resource cost incurred

• The overall budget utilization for the project

Approval Workflows:
You can configure Screedragon to require timesheet approval by a designated person. Only approved timesheets will count toward project burn, ensuring data accuracy and control. Click here for information on approving timesheets.