BUDGET TEMPLATE INSTRUCTIONS

Contents:
- This instruction sheet
- Cost Estimate Template (prepopulated with sample data)
- Planning Budget Template (prepopulated with sample data)
- Tracking Budget Template (prepopulated with sample data)

Notes:

- The sample is a very simple project, but this template can easily be expanded to address m
- Contingency is added as a lump sum line item in the Planning Budget (30% of the cost est
- This budget template relates to [Name with link to article]
- If you have trouble following the flow of the numbers, check the formulas by double clickin

"Before we begin, what do we think this project will cost?" (Ballpark es

Cost Estimate Guidelines:
- This is what everyone assumes the project will cost before it has started.

- The cost estimate sample is typical of what a project manager might receive at the outset
estimate available at the time and is often created prior to project approval and PM involvem
- Note that this is an "order of magnitude" estimate with a large potential varianc
this is well understood by stakeholders.

"We're about to start, what's the very best estimate we can come up w
of the details we can reasonably know?"
Planning Budget Guidelines:
- The Planning budget should be based on actual quotes or educated estimates.
- This is more detailed than the Cost Estimate but not as detailed at the Tracking Budget.
- Note the Planning Budget categories carry over to the Tracking Budget.
- The accuracy and room to manuever that these estimates offer, will be critical to
bringing the project in under budget. Don't under estimate and always have a hea

"The project is underway. How much is each item actually costing us an

have variances?"
Tracking Budget Guidelines:
- This is the tool to track project expenditures in detail as the project is being executed.
- Builds and expands on the Planning Budget using the same categories, this tool tracks qua
variances, work orders, invoices and more.
- The notes field can be used for detailed status. Including "why" is often a good i
ing with vairances.
 PROJECT COST ESTIMATE
This is a high level estimate of the cost for this project based on what is known prior
project start and before any detailed analysis. (Please note potential variance below

Project Name:

Estimated Items
Construction
Furniture
Computers and phones

Total
 PROJECT COST ESTIMATE
level estimate of the cost for this project based on what is known prior to
art and before any detailed analysis. (Please note potential variance below)

Build a new office space for 10 people

Order of magnitude cost estimate +/- 50%-100%

$50,000
$25,000
$25,000

$100,000
 PROJECT PLANNING BUDGET
This is a more detailed initial estimate of the cost for this project
based on what is known at project start. It also includes a
contingency budget for potential over-runs.
Project Name: Build a new office space
for 10 people

Budgeted items Quantity Planned Budget

Construction subtotal $50,000
Internal walls 1000 $7,500
linear feet

Electrical 1 job $10,000

Plumbing 1 job $12,500
HVAC 1 job $10,000
Lights 15 $5,000
Carpet 300 sq. $5,000
yrds

Furniture Subtotal $35,500

Desks 10 $20,000
Chairs 16 $8,000
Tables 5 $2,500
Lounge area furniture 5 $5,000

Computers and Phones $28,000

Subtotal
Desktop computers 10 $20,000
Periperals 10 $2,000
Printer / Copier 1 $3,000
Deskphones 10 $3,000

Contingency $30,000
Total Project Budget $143,500

Basis For Contingency: [Explain why the contingency is set at this level]
his level]
 PROJECT
This document tracks the ACTUAL cost for this project on a

Project Name: Build a new office space for 10 pe

Item Quantity Budgeted

Construction subtotal
Internal walls 1000 linear $7,500
feet

Electrical 1 job $10,000

Plumbing 1 job $12,500
HVAC 1 job $10,000
Lights 15 $5,000
Carpet 300 sq. yrds $5,000

Furniture Subtotal
Desks 10 $20,000
Chairs 16 $8,000
Tables 5 $2,500
Lounge area furniture 5 $5,000
Computers and Phones Subtotal
Desktop computers 10 $20,000
Periperals 10 $2,000
Printer / Copier 1 $3,000
Deskphones 10 $3,000
Subtotals
Contingency Budgeted and Remaining
Total Budget
Less Actual Amounts Expended
Amount Under/(Over) budget
 PROJECT TRACKING BUDGET
cost for this project on an ongoing basis. It also includes a notes column for explaining details and varian

w office space for 10 people

Variance
Actual Amount (from Budget to
Budgeted order/invoice) Actual Work order # Invoice # Date Paid
$50,000 $50,000
$7,500

$0 C2013-1 12345 6/21/2013

$10,000 $0 C2013-2 12346 7/21/2013
$12,500 $0 C2013-3 12347 8/21/2013
$10,000 $0 C2013-4 12348 9/21/2013
$5,000 $0 C2013-5 12349 10/21/2013
$5,000
$0 C2013-6 12350 11/21/2013
$35,500 $45,500
$20,000 $0 F2013-1 23456 6/21/2013
$8,000 $0 F2013-2 23457 6/24/2013
$2,500 $0 F2013-3 23458 6/25/2013
$15,000 ($10,000) F2013-4 23459 6/26/2013
$28,000 $30,800
$22,500 ($2,500) IT2013-1 34567 8/21/2013
$2,000 $0 IT2013-2 34568 8/22/2013
$3,350 ($350) IT2013-3 34569 8/23/2013
$2,950 $50 IT2013-4 34570 8/26/2013
$113,500 $126,300 ($12,800)
$30,000 $17,200
$143,500
$126,300
$17,200
plaining details and variances.

Notes

Ordered 4/1/2013; Invoice rec' 6/4/2013