{"id":8391,"date":"2025-06-09T09:06:11","date_gmt":"2025-06-09T09:06:11","guid":{"rendered":"https:\/\/resourceguruapp.com\/blog\/?p=8391"},"modified":"2025-06-09T09:06:11","modified_gmt":"2025-06-09T09:06:11","slug":"project-budgets","status":"publish","type":"post","link":"https:\/\/resourceguruapp.com\/blog\/product-updates\/project-budgets","title":{"rendered":"Hit peak profitability with project budgets"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Keeping a close eye on project budgets is key. Without a solid handle on how things are progressing, issues can spiral fast and profits can take a hit. You can now set and track project budgets in Resource Guru, helping you monitor spend, spot issues early, and keep projects\u2014and profitability\u2014on course.\u00a0<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">In this article \ud83d\udcd6<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/resourceguruapp.com\/blog\/product-updates\/project-budgets\/#Why-project-budgets-matter\" >Why project budgets matter<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/resourceguruapp.com\/blog\/product-updates\/project-budgets\/#How-project-budgets-work\" >How project budgets work<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/resourceguruapp.com\/blog\/product-updates\/project-budgets\/#Whats-next-on-the-agenda\" >What\u2019s next on the agenda?<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Why-project-budgets-matter\"><\/span><span style=\"font-weight: 400;\">Why project budgets matter<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span style=\"font-weight: 400;\">Monitor spend<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">You can approach these project budgets in two ways.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-8408\" src=\"https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2025\/06\/Project-Budgets-Modal-2-684x671.png\" alt=\"Project budgets modal on Resource Guru showing options to set budget by fee or by hours.\" width=\"684\" height=\"671\" srcset=\"https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2025\/06\/Project-Budgets-Modal-2-684x671.png.webp 684w, https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2025\/06\/Project-Budgets-Modal-2-724x711.png.webp 724w, https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2025\/06\/Project-Budgets-Modal-2-44x44.png.webp 44w, https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2025\/06\/Project-Budgets-Modal-2-310x304.png.webp 310w, https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2025\/06\/Project-Budgets-Modal-2-800x785.png 800w, https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2025\/06\/Project-Budgets-Modal-2-1200x1178.png 1200w, https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2025\/06\/Project-Budgets-Modal-2.png 1290w, https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2025\/06\/Project-Budgets-Modal-2-44x44@2x.png.webp 88w, https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2025\/06\/Project-Budgets-Modal-2-310x304@2x.png.webp 620w\" sizes=\"auto, (max-width: 684px) 100vw, 684px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">You can either budget by fee, or by hours. Either way you always get a clear picture of how things are progressing.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tracking <\/span><b>budgets by hours<\/b><span style=\"font-weight: 400;\"> gives project managers\u2014and others who allocate work to staff\u2014clarity. It tells them whether they\u2019re burning through too many or too few hours and when to adjust their approach<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tracking <\/span><b>budgets by fee<\/b><span style=\"font-weight: 400;\"> is crucial for anyone responsible for financial performance. This helps them make sure teams aren\u2019t overspending and putting profit margins in jeopardy. It also lets them see which projects are most profitable, and pursue similar projects for a healthy impact on their bottom line.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Spot issues early<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Tracking budget also helps signal when you\u2019re overservicing clients, or in danger of missing deadlines. Keeping a close eye on budget performance means you can act on issues before they become critical.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That way, you can make the necessary adjustments before it ends up costing the business. And, you won\u2019t waste time on end-game firefighting.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Keep projects on course<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The beauty of having this kind of financial tracking under the same roof as your <\/span><a href=\"https:\/\/resourceguruapp.com\/features\/resource-management\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">resource management<\/span><\/a><span style=\"font-weight: 400;\"> is that you can action any issues you spot in an instant. Plus, you get to ditch error-prone financial spreadsheets and excess tools that overcomplicate the process.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Whether you need to tackle <\/span><a href=\"https:\/\/help.resourceguruapp.com\/en\/articles\/1954882\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">availability<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/resourceguruapp.com\/blog\/product-updates\/customizable-schedule\"><span style=\"font-weight: 400;\">schedules<\/span><\/a><span style=\"font-weight: 400;\">, or find someone with a certain <\/span><a href=\"https:\/\/resourceguruapp.com\/blog\/product-updates\/custom-fields-filter-sort-group\"><span style=\"font-weight: 400;\">skillset<\/span><\/a><span style=\"font-weight: 400;\">, it\u2019s all at your fingertips. That way, you can pivot faster than ever to keep things on-track and on-budget.\u00a0<\/span><\/p>\n<div class=\"freetrial freetrial--text-light freetrial--alt\"><div class=\"freetrial__image\"><img loading=\"lazy\" decoding=\"async\" width=\"310\" height=\"286\" src=\"https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2024\/02\/free-trial-alt-310x286.png\" class=\"attachment-freetrial size-freetrial wp-post-image\" alt=\"\" srcset=\"https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2024\/02\/free-trial-alt-310x286.png 310w, https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2024\/02\/free-trial-alt.png 536w\" sizes=\"auto, (max-width: 310px) 100vw, 310px\" \/><\/div><div class=\"freetrial__text\"><h4>The #1 scheduling and time tracking tool trusted by thousands of project teams<\/h4>\n<p>Join thousands of project managers who have made scheduling a breeze.<\/p>\n<p><a class=\"button\" href=\"https:\/\/app.resourceguruapp.com\/\" rel=\"noopener\">Start Your Free Trial<\/a><\/p>\n<\/div><\/div>\n<h2><span class=\"ez-toc-section\" id=\"How-project-budgets-work\"><\/span><span style=\"font-weight: 400;\">How project budgets work<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">You can get started with project budgets in a few simple steps:\u00a0<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Create your project, add your <\/span><a href=\"https:\/\/resourceguruapp.com\/blog\/product-updates\/project-teams\"><span style=\"font-weight: 400;\">team<\/span><\/a><span style=\"font-weight: 400;\">, and any applicable <\/span><a href=\"https:\/\/resourceguruapp.com\/blog\/product-updates\/project-rates\"><span style=\"font-weight: 400;\">rates<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Choose your budget type\u2014by fee or by hours\u2014and set the amount<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Start <\/span><a href=\"https:\/\/resourceguruapp.com\/features\/resource-scheduling\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">scheduling<\/span><\/a><span style=\"font-weight: 400;\"> people and resources as usual, and enjoy easier, more informative tracking<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">Once you\u2019re set up, you\u2019ll see the budget remaining for each project in the <\/span><a href=\"https:\/\/help.resourceguruapp.com\/en\/articles\/1956610\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Projects and Clients<\/span><\/a><span style=\"font-weight: 400;\"> section. This gives you a clear breakdown of performance across the board.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-8406\" src=\"https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2025\/06\/Project-report-project-budgets-729x671.png\" alt=\"Project report showing project budget spend on Resource Guru.\" width=\"729\" height=\"671\" srcset=\"https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2025\/06\/Project-report-project-budgets-729x671.png.webp 729w, https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2025\/06\/Project-report-project-budgets-773x711.png.webp 773w, https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2025\/06\/Project-report-project-budgets-310x285.png.webp 310w, https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2025\/06\/Project-report-project-budgets-800x736.png 800w, https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2025\/06\/Project-report-project-budgets-1200x1104.png 1200w, https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2025\/06\/Project-report-project-budgets.png 1250w, https:\/\/resourceguruapp.com\/blog\/wp-content\/uploads\/2025\/06\/Project-report-project-budgets-310x285@2x.png.webp 620w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">And, you\u2019ll see how reports have evolved off the back of project budgets. Now, as well as reporting on scheduled and actual hours, you can also compare total project budget and remaining budget across different time frames. Plus, you can <\/span><a href=\"https:\/\/help.resourceguruapp.com\/en\/articles\/1957186\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">export these reports<\/span><\/a><span style=\"font-weight: 400;\"> to slice the data in any direction and find the exact insights you need.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Check out our <\/span><a href=\"https:\/\/help.resourceguruapp.com\/en\/articles\/4361666\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Help Center<\/span><\/a><span style=\"font-weight: 400;\"> for full details on how you can make the most of project budgets.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Whats-next-on-the-agenda\"><\/span><span style=\"font-weight: 400;\">What\u2019s next on the agenda?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Head to our <\/span><a href=\"https:\/\/portal.productboard.com\/u3wdgytlr9dhqrdkzqf46ybi\/tabs\/2-planned\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">product portal<\/span><\/a><span style=\"font-weight: 400;\"> to see what else is on our roadmap, vote for the features you\u2019ll find most helpful, and submit new ideas.\u00a0<\/span><\/p>\n<div class=\"comingsoon comingsoon--default\"><div class=\"comingsoon__image\"><\/div><div class=\"comingsoon__text\"><h4>What&#8217;s next for Resource Guru?<\/h4>\n<p>Explore our product portal to see what&#8217;s planned next and what we&#8217;ve already added. Vote on which features are most important to you and submit new ideas to have your say!<\/p>\n<p><a class=\"button\" href=\"https:\/\/portal.productboard.com\/u3wdgytlr9dhqrdkzqf46ybi\/tabs\/2-planned\" target=\"_blank\" rel=\"noopener\">View and Vote on Upcoming Features<\/a><\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Keeping a close eye on project budgets is key. Without a solid handle on how things are progressing, issues can spiral fast and profits can take a hit. You can now set and track project budgets&hellip;<\/p>\n","protected":false},"author":36,"featured_media":8396,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","mc4wp_mailchimp_campaign":[],"footnotes":""},"categories":[30],"tags":[61,62],"class_list":["post-8391","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-product-updates","tag-product-updates-feed","tag-heartbeats"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Hit peak profitability with project budgets | Resource Guru<\/title>\n<meta name=\"description\" content=\"Monitor spend, spot issues early, and keep project profitability on course with project budgets you can track by fee or by hours.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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