Resource Management Archives - ProjectManager

20 Best Resource Management Software of 2025 (Free & Paid)

Brenna Schwartz — Mon, 02 Jun 2025 15:00:01 +0000

Resource management is all about getting the materials, supplies, equipment and people you need to execute a project. It involves how you plan, schedule, allocate and manage those resources to best serve the project. But what exactly is resource management software?

What Is Resource Management Software?

Resource management software helps project managers keep track of the human resources, raw materials and equipment needed to complete a project. Before we look at a number of tools that claim to be the best resource management software, let’s define the key features a resource management software should provide. Then we’ll get to the best resource management software rankings of 2025.

Best Resource Management Software Features

Resource management is all about obtaining the materials, supplies, equipment, and people needed to execute a project. It involves planning, scheduling, allocating, and managing those resources to best serve the project.

Resource management software should include resource planning, resource forecasting and resource allocation features to ensure teams have what they need when needed. Through resource management tools, projects keep to their budgets and stay on schedule.

Resource forecasting tools: Using too many resources can be costly and using too few will affect your project schedule and budget. Fortunately, resource forecasting tools can help you gauge your resource requirements so you can determine which resources are truly needed.
Resource planning tools: Resource planning tools help you ensure your resources are used effectively. That means working with vendors, subcontractors and your own teams, coordinating their work and making sure that your resource utilization aligns with your project plan.
Resource scheduling tools: Once you know what resources are needed for each task, you’ll need resource scheduling tools to create a resource schedule and a timeline for the procurement and allocation of resources.
Resource allocation tools: Resource allocation tools help project managers assign specific resources to project tasks, such as assigning tasks to a team member or indicating the equipment that will be needed for a particular project activity.
Workload management tools: Workload management tools help project managers measure the amount of work that’s assigned to their team members so they can better reallocate project resources.

2025 Best Resource Management Software Rankings

The following are a handful of the best resource management software currently available. One of them should meet your resource management needs.

1. ProjectManager

ProjectManager is a comprehensive project and portfolio management software that tops our list of best resource management software. No other software seamlessly integrates real-time resource management with detailed planning and scheduling. Incorporate planned hours, resource costs and dependencies into your project plans.

Use Gantt charts, kanban boards, dashboards, workload calendars and a comprehensive Team page to manage everything on one platform. Live data gives users greater visibility into their resource schedule, tracking labor costs, workload and task progress in real time. ProjectManager offers a free 30-day trial so you can try it out for yourself.

Schedule & Track Resources with Gantt Charts

Resource planning is one of the more challenging aspects of managing a project. Fortunately, ProjectManager makes it easy to identify and categorize teams, supplies, equipment and other resources for easy planning and scheduling on the Gantt chart. More than that, the Gantt chart schedules resources based on their availability and skillset. As the project progresses, you can monitor costs and workload in real time to keep to your budget and avoid burning out your team.

Set Availability and Balance Workload

Teams are your most valuable resource and you need a resource management tool that knows how busy they are without getting in their way. A color-coded workload chart gives managers transparency into how many or how few tasks are assigned to their team. You can then balance the workload right from that page. When you reallocate resources, though, you need to know your team’s availability, especially if they’re hybrid or remote.

ProjectManager is the best resource scheduling software because it lets you define working days, holidays and planned hours, blocking days and setting parameters to help with task management and project scheduling. You can even filter by project, team or month if you’re using the tool for project portfolio management or program management.

Manage Team Workload and Track Progress

When you’re done with your resource planning and scheduling, switch over the Team page to see specific tasks your team is working on on a daily or weekly basis. This intuitive view sets ProjectManager apart from other resource management software beacuse it allows you to reallocate tasks with a simple drag-and-drop and click into tasks for quick updates. It’s never been easier to manage your team alongside your project plan.

Resource management isn’t just about planning and scheduling; it’s also about tracking resource utilization. ProjectManager has live dashboards (unlike other tools that require time-consuming setup) and one-click reporting for in-depth tracking of workload, availability, timesheets and tasks. Secure timesheets track how long your team is spending on tasks. Plus, when teams update their status, that resource utilization data is shared across the software instantly—even when data is entered via the mobile app.

With these features and others like a sheet view, kanban and more, no software does resource management better than ProjectManager. The best part? You can get started for free right away. Start your free trial of ProjectManager by clicking here.

Verdict: Best Project Resource Management Software for Project Management

ProjectManager Pros & Key Features

Built-in time tracking that’s easy to use
Multiple resource allocation views
Workload management charts
Cost tracking dashboards
Excels at real-time collaboration
Offers a 30-day free trial
Has a mobile app for Android and iOS

ProjectManager Cons & Limitations

Limited customization
Few native integrations
No free plan

ProjectManager Pricing

Team: $14 user/month
Business: $26 user/month

ProjectManager Reviews

G2 review: 4.4/5
Capterra review: 4.1/5

Highlighted User Reviews

“ProjectManager works very well with both large and small-scale projects. Being able to use this with anything from a project involving only two members of staff, to hundreds, has been invaluable.” Peter W – from Capterra
“We used to manage our projects, resources, and reporting in different systems. Enter ProjectManager. We have consolidated systems and work more efficiently.” Jeffrey M – from Capterra
“Having the full scope of activities and who is responsible to do it, plus the time tracking is excellent.” Flavio M – from G2
“It has an excellent accounting system capable of calculating the time that a person has used to develop a task that was assigned to him, I like being able to collaborate with all my colleagues in the Finance sector through ProjectManager.” Jesus C – from G2
“The UI of the application is user-friendly, and it helps to identify what we are looking for with minimal effort.” Pavan H – from G2

2. Float

Float is a resource management software that’s used by agencies, studios and firms for tracking who is working on what and when.

It can manage more than one project at a time, so you can see all your projects and their competing milestones in a single view, which helps with planning and scheduling. You can monitor your budgets in real time and forecast hours, which helps prevent overspending. The resource management software integrates with Slack, Google Calendar and other apps, which fills in some holes. It excels at capacity management, demand forecasting and skills tracking—making it one of the best resource management software around.

A problem with this resource management software is that if more than one person is using it, things like task names and job descriptions aren’t centrally controlled and can vary as people edit them. While it can help organize resources, it’s missing some vital resource planning features, such as a decent search and a well-designed dashboard. Resource utilization reports are complicated and not visual, which would make them easier to digest at a glance. However, the fact that it can work with multiple projects makes it a good bet for project portfolio or program management.

Verdict: Best Resource Management Software for Portfolio Management

Float Pros & Key Features

Strong capacity management and demand forecasting
Offers many integrations
30-day free trial
Mobile app for Android and iOS

Float Cons & Limitations

Decent resource management tool but not a project management solution
Missing important project management features such as Gantt charts, dashboards and reports
Limited feature set

Float Pricing

Starter: $6 user/month
Pro: $10 user/month

Float Reviews

G2 review: 4.3/5
Capterra review: 4.5/5

Highlighted User Reviews

“Very adaptable for different project types and team working styles. Visual reporting is easy to digest.” Nancy D – from G2
“The planning, time tracking and reporting features seem to work in a stable manner.” Alain S – from Capterra

3. Resource Guru

Resource Guru is designed for resource managers and project managers. It’s primarily a project scheduling and resource management software.

With Resource Guru, adding, editing, moving or deleting items in your schedule is fast and simple. You get visibility into resource utilization on its calendar view and a staff time tracker helps you stay updated on vacations, sick days, maternity leave, etc. The calendar syncs to a resource planning dashboard so everyone in the project is on the same page, and visual reports give you data on resource allocation.

Beyond that, this resource management software has limited features. For example, there aren’t alerts or appointment scheduling. There’s also little automation, which would help streamline the process greatly. The reporting feature could be better, and while there are integration workarounds, it’d be nice to have everything working under one roof. But the fact that it keeps your teams on schedule is a resource management win.

Verdict: Best Resource Management Software for Team Resource Visibility

Resource Guru Pros & Key Features

Good for keeping your team on schedule
Strong visual reports
Offers a 30-day free trial
Mobile project management app for Android and iOS

Resource Guru Cons & Limitations

Has only one calendar-like view for resource planning, project scheduling and workload management
Lack of project planning and scheduling tools such as Gantt charts or kanban boards
Limited reporting, only offers reports on resource allocation

Resource Guru Pricing

Grasshopper: $4.16 user/month
Blackbelt: $6.65 user/month
Master: $10 user/month

Resource Guru Reviews

G2 review: 4.6/5
Capterra review: 4.7/5

Highlighted User Reviews

“We schedule our own crews and subcontractor crews with this tool and it works extremely well.” Tonya D – from G2
“We use Resource Guru to manage the utilization/booking of our research facilities. This works well for us as we have a small number of facilities we manage.” Steve B – from Capterra

4. Kantata

Kantata is the merger of Mavenlink and Kimble Applications. It aims to help users staff teams, respond to changes in their projects and deliver better operational performance.

Kantata offers project management and resource management features for small, medium and large businesses in IT services, engineering and other industries. It’s an easy-to-use, intuitive tool with good reporting features.

However, it can be complicated when trying to navigate integrations. The integration tool is poorly designed. While Kantata does have resource management tools that are fairly good at what they do, the price tag isn’t cheap. If your business is operating on a tight budget, then you might want to look elsewhere. On top of that, setup is a problem and will likely send users to customer support for assistance.

Verdict: Best Resource Planning Software for Reporting

Kantata Pros & Key Features

Multiple task management Tools
Intuitive and easy to use
Resource utilization dashboards

Kantata Cons & Limitations

User experience could be improved by making the software more intuitive
Lacks basic project management features like Gantt charts, kanban boards or project dashboards
Not ideal for task or project management due to limited functionality
Doesn’t have a mobile project management app

Kantata Pricing

Custom pricing depends on company information

Kantata Reviews

G2 review: 4.2/5
Capterra review: 4.2/5

Highlighted User Reviews

“The best thing about Kantata is that I can see budgets and time entries in real-time.” Rachel S – from G2
“The time tracking and resource allocation features are very well integrated into the system.” Hussain A – from Capterra

5. Monday.com

Monday.com is known more as a task management app but has a resource management template that helps you plan your asset allocation.

There are many workflow views and you can use Gantt charts and kanban boards to import the template. A map view allows you to locate assets and displays the status of your resources in a dashboard-like setting, including financial data.

But, as noted, Monday.com is primarily used for task management and that’s where it excels—not as resource management software. There’s also the pricing structure, which keeps the resource management features you want behind a higher subscription rate. Tracking time and expenses aren’t easy and the mobile app is limited in terms of what it can do. Add integration problems and suddenly Monday.com looks like the worst day of the week.

Verdict: Best Resource Planning Software for Task Management

Monday.com Pros & Key Features

Multiple workflow views
Excels at tracking financial data
Offers a 14-day free trial
Mobile project management for Android and iOS

Monday.com Cons & Limitations

Better suited for task and workflow management than for resource management
Very limited resource reporting features, dashboards lack detail
Cost and budget tracking features aren’t automated and require manual editing

Monday.com Pricing

Free: $0 user/month
Basic: $8 user/month
Standard: $10 user/month
Pro: $16 user/month

Monday.com Reviews

G2 review: 4.7/5
Capterra review: 4.6/5

Highlighted User Reviews

“We used to have a mess of excel sheets and emails but now everything’s in one place.” Laura A – from G2
“It is overall a great product but it requires a lot of setup initially to take advantage of all its functions and features.” Ana D – from Capterra

6. Runn

Runn is resource management software that helps with forecasting and assigning human resources. It’s a flexible and intuitive app that helps users integrate project information from your CRM and financial systems. You get an overview of what people are doing and their capacity, the projects they’re working on and their availability. You can reallocate overtasked resources and see the financial impact of that action.

However, this is strictly a resource management software. If you’re looking for task management or other project management features, then you’re going to have to use Runn in conjunction with other project management tools. In terms of resource management, it can be frustrating, especially if you’re not estimating for projects beforehand. Also, because of the extensive modeling and planning features, setup is time-consuming.

Verdict: Best Resource Management Software for Forecasting

Runn Pros & Key Features

Strong capacity planning features
Flexible and intuitive
Offers a 14-day free trial
Mobile project management for Android and iOS

Runn Cons & Limitations

Missing many project management features such as Gantt charts, kanban boards, task lists or project dashboards
Limited resource management features
Overly simplistic reports that lack detail

Runn Pricing

Pro: $10 user/month
Enterprise: Contact sales for customized pricing

Runn Reviews

G2 review: Not enough reviews, fewer than 50
Capterra review: Not enough reviews, fewer than 50

Highlighted User Reviews

“Runn works well for our organization because it’s inexpensive, cloudbased, and meets our scheduling needs as project managers.” David B – from G2
“This tool was so simple to implement, and it’s easy to use to track what projects our resources are working on now and in the future.” Joyce K – from Capterra

7. Wrike

Wrike combines project management with a real-time workspace. It’s a popular software option but only the most expensive plans include resource management features.

This software lets you create and customize multiple dashboards that can then be shared with teams. There are nice risk features that help you predict and manage them if they show up in a project. Also, the tool has a lot of collaborative features, allowing teams to stay in contact with automated responses.

Of course, a lot of these advantages aren’t related to resource management, which as we wrote, can only be accessed for a substantial investment in the resource management software. This can be a no-sale for mid-sized companies, especially as there are less expensive alternatives available. Also, integrations were slow to deliver alerts, such as Outlook, which is a problem.

Verdict: Best Resource Management Software for Risk Management

Wrike Pros & Key Features

Customizable dashboards
Strong collaboration features
Offers a 14-day free trial
Mobile project management for Android and iOS

Wrike Cons & Limitations

The Gantt chart functionality is very limited and the user interface is outdated
Lack of project and resource management reports
Limited cost and budget tracking features

Wrike Pricing

Free: $0 user/month
Team: $10.00 user/month
Business: $25.00 user/month

Wrike Reviews

G2 review: 4.2/5
Capterra review: 4.4/5

Highlighted User Reviews

“Wrike has become essential in my day and keeps me organized and on top of my tasks.” Paige T – from G2
“Productivity has been enhanced by removing essential but repetitive chores.” Denise S – from G2

8. Smartsheet

Smartsheet is software that takes the spreadsheet and supersizes it. The software is relatively inexpensive and there’s a free forever plan. The tool is also highly customizable, with powerful analytics and reporting tools. There are a lot of templates to get you started, including ones for human resources. It features collaborative tools, automation and real-time reporting.

What it doesn’t have, unless you pay for add-ons, is time tracking and resource management software. Maybe you’d be willing to pay extra, but the software even at its simplest is hard to use. There’s a steep learning curve to clear just to get any advantage out of it. Plus, pages don’t update in real time, which can mean you’re working on outdated data.

Verdict: Best Resource Management Software for Spreadsheet Users

Smartsheet Pros & Key Features

Analytics and reporting
Highly customizable
Offers a free 30-day trial
Has a mobile app available for Android and iOS

Smartsheet Cons & Limitations

Relies too heavily on spreadsheets
Limited resource management functionality
It requires the use of formulas which is not ideal for most users

Smartsheet Pricing

Pro plan: $9 user/month
Business plan: $19 user/month

Smartsheet Reviews

G2 review: 4.4/5
Capterra review: 4.5/5

Highlighted User Reviews

“Smartsheet has allowed me to take my to-do list and run with it in a way that I didn’t think would be possible.” Victoria W – from G2
“I like that Smartsheet has a lot of different functions. It can be used for project management, inventory or event planning.” Lauren M – from Capterra

9. Silverbucket

Silverbucket is a resource planning tool for projects that is user-friendly and helps to plan and allocate resources.

It allows you to avoid conflicts and manage loads and capacity. Projects, people and capacity planning all are monitored within a single view, so resource scheduling decisions are based on hard data, which leads to greater profitability. There’s a filtered search, which is helpful, and skill tracking for team members. Plus, it integrates with many other project management apps.

Some issues include that the resource management software doesn’t have drag-and-drop functionality, which can make it a bit clunky to use. The resource planning dashboard is less than ideal, and you have to click to get data on team members’ allocation. Resource allocation reporting is problematic, too, and leaves a big hole in the software that hopefully will get filled in one day. For all its shortcomings, we did appreciate the ease with which it integrated with other project management apps.

Verdict: Best Resource Management Software for Capacity Planning

Silverbucket Pros & Key Features

Integrates with many project management apps
User-friendly interface
Offers a free 30-day trial

Silverbucket Cons & Limitations

Outdated user interface
Cost tracking reports are not robust enough for project management
Overall limited resource management functionality
Not a good resource management software for small teams
Doesn’t have a mobile app

Silverbucket Pricing

Resource Planning: 9.10€ user/month, only available for 30 users or more

Silverbucket Reviews

G2 review: Not enough reviews, fewer than 50
Capterra review: Not enough reviews, fewer than 50

Highlighted User Reviews

“Silverbucket user interface is intuitive and straightforward.” Pirkka L – from G2
“It has given us more reliable data to be able to manage our business and enable global resource planning possibilities in the future.” Kate P – from Capterra

10. Birdview

Birdview PSA is a resource management software for midsize to enterprise-level teams. It’s used in projects ranging from marketing, IT, operations and software development to professional services.

This software automates your workflows, which saves time. Teams can automatically create template-driven projects or tasks based on available resources and incoming requests. Birdview PSA by Easy Projects offers a more visual resource planning and project reporting user interface. It has team collaboration tools, Gantt charts and kanban boards, making it more of a full project planning solution.

However, Birdview PSA might not be the best project management software for team communication or collaboration. For example, if two people are working on a task and one finishes because they still receive notifications until the other completes the assignment. There have been issues with resource allocation reporting, as well, as project stakeholders don’t get the full Gantt chart view unless they have a license. While there were some dings, the overall visual style was very appealing and made using this project resource management software fun and functional.

Verdict: Best Resource Management for Service Delivery Teams

Birdview Pros & Key Features

Workload balancing and automation
Ideal for visual resource planning
Has a 30-day free trial
Has a mobile project management for Android and iOS

Birdview Cons & Limitations

Outdated, non-intuitive user interface
Gantt chart lacks resource allocation and scheduling features
Project management tools like Gantt charts and kanban boards don’t allow tracking costs at the task level

Birdview Pricing

Lite: $9 user/month
Team: $24 user/month

Birdview PSA Reviews

G2 review: 4.2/5
Capterra review: 4.5/5

Highlighted User Reviews

“Birdview is an easy tool to use to manage projects with multiple users.” Cassie H – from G2
“Birdview has changed my working experience. It helps me stay on top of tasks in a timely manner and keeps everything in one place.” Paige A – from Capterra

11. Paymo

Paymo is a resource management app that helps to align teams and keep them engaged. Its resource scheduling works with features on project planning, time tracking and invoicing.

There are task management tools for managing team capacity, workload and availability and automatic ghost bookings based on task dates that were already added to the project plan. Other key features include Gantt charts and timesheets that track planned vs. actual work time.

Users have complained about the steep learning curve of using this resource management app. But even if you take the time and put in the effort to learn how to use it, there are limits that might have you seeking more robust resource management tools. For example, the dashboard is more geared for invoicing than resource management. There’s a web task timer, which is great for managing remote workers, only it doesn’t detect idle time or automatically shut off when left running, which can cause some discrepancies with your team.

Verdict: Best Resource Management Software for Payment and Invoicing

Paymo Pros & Key Features

Modern, visually appealing user interface
Track planned vs. actual data
Offers a 15-day free trial
Mobile project management app for Android and iOS

Paymo Cons & Limitations

Limited resource management reporting features
It’s hard to export data to other software, files can only be exported as PDF or PNG
Steep learning curve, requires onboarding and training

Paymo Pricing

Free: limited features for a maximum of 10 users
Starter: $5.90 user/month
Small Office: $10.90 user/month
Business: $16.90 user/month

Paymo Reviews

G2 review: 4.6/5
Capterra review: 4.7/5

Highlighted User Reviews

“Paymo has all the capabilities that allows me to save time by automating project and task management procedures.” Larry K – from G2
“I like the way Paymo has been designed. With its straightforward menu sidebar, it’s easy to access everything your business needs quickly and easily.” Jamie Lee J – from G2

12. Forecast

Forecast is a resource management software used throughout the world mostly in the professional services, agency, consulting and software sectors.

Some of its benefits include the fact that it offers real-time data that can help companies with enterprise resource planning and improve KPIs. It’s one of the new crops of tools that applies AI to help with resource scheduling and selecting team members who are most suited to working on a particular task or project.

As with many of the options on our 2025 best resource management software list, Forecast can be difficult to use. One of the major deficits is the lack of reporting tools, which means poor tracking and difficulty learning from the lessons of past projects. Some users praise it as a forecasting tool but criticize the project visualization that gets confusing when dealing with larger teams in bigger organizations. Finally, the software is suited for more traditional ways of working with resource management and those creative industries or teams who work in an agile project management methodology tend to be frustrated by the tool.

Verdict: Best Resource Management Software for AI Automation

Forecast Pros & Key Features

Ideal for enterprise teams
Resource scheduling through AI
Offers a 14-day free trial
Project management app for Android and iOS

Forecast Cons & Limitations

High-priced alternative with a minimum of 20 users
The software is more focused on automating features through AI than optimizing the user experience
Limited resource allocation and cost management functionality

Forecast Pricing

Contact sales for customized pricing

Forecast Reviews

G2 review: 4.2/5
Capterra review: 4.5/5

Highlighted User Reviews

“Multiple ways to record time and view tasks without overcomplicating the process.” Kieran S – from G2
“It is an affordable tool that centralizes management making boosting productivity easy.” Marjo M – from G2

13. Hubstaff

Hubstaff is a resource management software designed for agile project management. In fact, the whole tool is based on an agile methodology to foster team collaboration and communication.

Its visual user interface is certainly going to attract the agile crowd, and kanban features will keep them happy. It’s easy to use and has multiple task management features, including Gantt charts, for resource planning. Customizable workflows help teams know that all their tasks are being worked on.

The problem with this resource management app that targets agile users is that its kanban boards have no work-in-progress (WIP) limits, swimlanes, custom fields or image previews in the board view. This is sure to turn off agile enthusiasts. Another fault of the software is its lack of integrations. Most organizations want their resource management tool to seamlessly integrate with other project management apps that they use. Not having this function or a very limited one might be a deal-breaker.

Verdict: Best Resource Management Software for Agile Teams

Hubstaff Pros & Key Features

Easy to use
Customizable workflows
Offers a 14-day free trial
Mobile project management for Android and iOS

Hubstaff Cons & Limitations

Missing key project management features such as Gantt charts or kanban boards
Not a good alternative for project management, geared towards time tracking and employee payroll management
Limited work management functionality

Hubstaff Pricing

Starter: $4.99 user/month
Grow: $7.50 user/month
Team: $10.00 user/month
Enterprise: $25.00 user/month

Hubstaff Reviews

G2 review: 4.5/5
Capterra review: 4.6/5

Highlighted User Reviews

“Hubstaff is highly user-friendly and straightforward, making time tracking a natural part of my daily routine.” Janna A – from G2
“Hubstaff is a fantastic tool for time tracking, payroll, and productivity monitoring.” George S – from G2

14. Ganttic

Ganttic is an online resource management software that is ideal for portfolio management.

Ganttic Key Features

Ganttic visualizes tasks in a matrix, which gives users a fully customized view of the project. Not only can you brainstorm, plan and allocate tasks to your team, but also track resource utilization on your dashboard. While excelling at workload and resource management, it also has portfolio optimization and can help you pick the right resources for the job along with the right projects for your organization.

That’s a lot of resource management features, but it takes a lot of time to get there. Setup is long due to all the personalizing of unique client data required. It’s also not the easiest resource management software to use. For example, there’s no click-and-drag punctuality to move an allocated block of time around the timeline. It can also be problematic on some web browsers, such as Chrome. You can’t create a draft that is private until published, which might turn off some potential users. Some users complained about the complexity of its time-tracking and task-management tools. There are still some bugs in the user interface, but that’s par for the course and shouldn’t deter those who like the portfolio features.

Verdict: Best Resource Planning Software for Gantt Charts

Ganttic Pros & Key Features

Visualizes tasks
Strong project portfolio management tools
Offers a free 10-day trial

Ganttic Cons & Limitations

Mobile app is only available for premium users
It’s a very limited tool that relies on a Gantt diagram view for most actions
Poor project and resource management reporting features

Ganttic Pricing

Up to 10 resources: $0 per month per resource
Up to 20 resources: $25 per month per resource
Up to 50 resources: $59 per month per resource
Up to 150 resources: $149 per month per resource
Up to 250 resources: $229 per month per resource
Up to 500 resources: $379 per month per resource
Up to 1000 resources: $599 per month per resource
Up to 1500 resources: $790 per month per resource

Ganttic Reviews

G2 review: 4/5
Capterra review: 4.3/5

Highlighted User Reviews

“Ease of use, once you learn the Ganntic way of doing things.” Nathan R – from G2
“Our planning and resource management is made easy with the adoption of Ganttic.” Thomas K – from Capterra

15. eResource Scheduler

eResource Scheduler is an enterprise resource management software that’s designed for managing resource utilization, scheduling and tracking across departments and business units within an organization.

This software helps you allocate resources and manage your team’s workload with simple tools such as workload charts, project calendars, timesheets and cost-tracking reports. It allows for effective resource mapping and has a skill matrix to pair the right team members with the right resources and projects.

However, the simplicity of this software is a drawback when it comes to meeting the needs of a project management team. It lacks many project management tools such as kanban boards, status reports or project dashboards. In addition, its existing project management tools such Gantt charts lack some of the more advanced features such as identifying task dependencies, managing the critical path or tracking costs at the task level. In general terms, it’s a tool that’ll help you with some aspects of resource management, such as tracking resource utilization or capacity reporting, but it’s not a fully featured resource management software for professional project management.

Verdict: Best Resource Management Software for Beginner Project Managers

eResource Scheduler Pros & Key Features

Ideal for project managers and team leaders who need basic resource management tools
Easy-to-understand features and simple user interface
Allows team leaders to assign hourly rates to each employee
Has timesheets to keep track of labor costs

eResource Scheduler Cons & Limitations

Its feature set might not be a good fit for many organizations
Not designed for project management
Confusing pricing structure

eResource Scheduler Pricing

Scheduling Module: $5.00 resource/month
Scheduling Plus: $2 resource/month
Timesheets Module: $4 resource/month
Financial Module: $3 resource/month
Authentication Plus: $1.60 resource/month

eResource Scheduler Reviews

G2 review: Not enough reviews, less than 50
Capterra review: Not enough reviews, less than 50

Highlighted User Reviews

“This software captures all the possible information about all resources in a central database which makes the identification of the resources easy.” Nikita S – from G2
“The visual display is very helpful. Clear and easy to see gaps. The ability to export data allows us to present information in ways that suit our needs.” Brooke F – from Capterra

16. Saviom

Saviom is an enterprise resource management software that helps with workforce planning, project management and workflow automation. It serves companies across industries such as construction, IT and engineering.

Saviom has features such as resource utilization charts, workload dashboards and resource scheduling calendars. These and other tools make Saviom a decent resource management tool for assessing your team’s workload, scheduling work or allocating resources for a project.

However, Saviom falls short as a project portfolio management tool as it lacks many of the features that project managers or project management offices (PMOs) need, such as project portfolio management roadmaps, dashboards and status reports. On top of this, Saviom has an outdated user interface, which offers a subpar user experience when compared with most of the resource management software alternatives in this list. In summary, Saviom helps with resource planning, allocation and tracking at the team level, but has significant drawbacks when evaluated as a project portfolio management software for project managers and PMOs.

Verdict: Best Resource Management Software for Workforce Planning

Saviom Pros & Key Features

Good for managing organizational resources and workflows for every day operations management
Resource estimation, planning and scheduling tools
Capacity planning and resource utilization reports

Saviom Cons & Limitations

Outdated user interface which results in a poor user experience
Project dashboards and reports are resource-centric, missing other aspects of project management
Lack of project planning, scheduling, tracking and reporting features

Saviom Pricing

Contact sales for customized pricing

Saviom Reviews

G2 review: Not enough reviews, less than 50
Capterra review: Not enough reviews, less than 50

Highlighted User Reviews

“Overall, it has robust forecasting capabilities that help anticipate future resource needs.” Puja K – from G2
“It makes it easy for us to manage resources and utilization across multiple discipline teams over three offices.” Tony L – from Capterra

17. Celoxis

Celoxis is project management and resource management software that is designed to help organizations plan, track and manage resources, projects and workflows. It effectively allocates and tracks resources, allowing users to manage both human and nonhuman resources. Users can create detailed schedules, allocate resources to specific tasks and adjust workloads based on availability and skill set. There are real-time insights into resource utilization to help project managers use those resources efficiently and effectively. Robust reporting and analytics, including customizable dashboards, track resource performance, workload and allocation.

With all those features, it will come as no surprise that the tool has a complex user interface. That means users will have to set aside time for training, even more so if they’re beginners without familiarity with project management software. There’s also a high initial setup cost. This resource management software can be expensive for small businesses and startups. The upfront cost, especially for on-premise deployment, can be a barrier for some organizations. While there is a mobile app, it’s not as comprehensive as the desktop version. The lack of features will limit flexibility for managing resources on the go. The reporting features are robots, but can be challenging to create custom reports or dashboards without significant setup or experience with the system.

Verdict: Best Resource Management Software for Advanced Scheduling

Celoxis Pros & Key Features

Allocates and tracks all resources
Adjust workloads based on availability and skill set
Real-time resource utilization and availability tracking
Customizable dashboards and reports

Celoxis Cons & Limitations

Complex user interface
High initial setup cost
Limited mobile functionality
Complex reporting features

Celoxis Pricing

Essential: $25 user/month (billed annually)
Professional: $35 user/month (billed annually)
Business: $45 user/month (billed annually)
Enterprise: contact sales

Celoxis Reviews

G2 review: 4.5/5
Capterra review: 4.4/5

Highlighted User Reviews

“It offers a wide range of features, including task management, resource allocation, time tracking, and reporting.” Rajkumar M – from G2
“I use it everyday to log my time and view project progress.” Kay M – from Capterra

18. Planview

Planview is resource management software designed for project portfolio management. It has advanced resource management capabilities to allocate, track and optimize the use of human and nonhuman resources across multiple projects and teams. It helps ensure that resources are available when needed and that workloads are balanced. Users get real-time visibility into resource utilization, helping to prevent overloading or underutilization of resources. There’s also advanced forecast and capacity planning to predict future resource needs.

Users complain that the user interface is complex and sometimes overwhelming. Its wide range of features can make it difficult to navigate and fully understand. Users, especially beginners, should seek out training. Onboarding can be time consuming. Clearing those hurdles might be easier than the price tag. This is expensive software, particularly for small-to-mid sized businesses. The licensing and subscription fees can be a significant financial burden. There’s no free plan or free trial to test out the software, either, which might be a hard no for potential customers.

Verdict: Best Resource Management Software for Portfolio Analysis

Planview Pros & Key Features

Resource management for portfolios
Balances workloads
Real-time resource tracking and utilization
Resource forecasting and capacity planning tools

Planview Cons & Limitations

Complex user interface
Steep learning curve
Costly, especially for small organizations
No free plan
No free trial

Planview Pricing

Contact sales for pricing information

Planview Reviews

G2 review: 3.6 / 5
Capterra review: 4.1 / 5

Highlighted User Reviews

“Planview provides my team with a platform that is intuitive to manage and organize tasks and projects effectively.” Tetiana B – from G2
“When Planview finances are working properly I really enjoy the options for financial analysis across different projects.” Kelly C – from Capterra

19. Rocketlane

Rocketlane is resource management software that’s purpose-built for client onboarding and professional services teams, offering a unified platform that combines project management, resource planning and collaboration tools. Its resource allocation features allow managers to assign work based on availability and skill sets, helping optimize team utilization. Real-time insights into workload and project timelines make it easier to forecast capacity and avoid bottlenecks. Rocketlane also includes time tracking and billing features, streamlining project delivery and ensuring transparency with clients.

However, Rocketlane may fall short for teams outside of its niche. Its focus on client-facing project workflows means the platform may not offer the depth or flexibility needed for internal IT, product development or engineering teams. Some users also report that the interface, while functional, can feel unintuitive or clunky when handling complex projects with many dependencies. Integration options, though improving, are not as extensive as those found in more mature platforms, which could limit its adaptability in diverse tech environments. As a result, Rocketlane is excellent for its intended audience but might not be the best fit for broader or more technical use cases.

Verdict: Best Resource Management Software for Client Onboarding

Rocketlane Pros & Key Features

Assign work based on availability
Optimize team utilization
Real-time workload

Rocketlane Cons & Limitations

Not built for IT, product development, engineering or other non-facing users
Clunky interface
Intuitive user experience

Rocketlane Pricing

Essential: $19 per team member/month billed annually
Standard: $49 per team member/month billed annually
Premium: $69 per team member/month billed annually
Enterprise: $99 per team member/month billed annually

Rocketlane Reviews

G2 review: 4.7/5
Capterra review: .7/5

Highlighted User Reviews

“The project planning features are excellent, especially for keeping everything organized and tracking deadlines across multiple teams.” – Mary Ellen O., from G2
“The ability to integrate with Salesforce and have multiple templates for various project types. When using the templates it’s easy to tailor them to our customers’ needs.” – Tony G., from Capterra

20. Scoro

Scoro is resource management software that offers an all-in-one solution that combines project planning, time tracking, billing, CRM and resource scheduling into a unified interface. Its resource management features allow teams to visualize workloads, allocate resources efficiently, and track availability in real time. Scoro’s built-in reporting and dashboard tools provide deep insights into team performance, project profitability and resource utilization, making it especially valuable for agencies and professional service firms. Its integration with popular tools and scalable design makes it adaptable for both small teams and larger enterprises.

On the other hand, Scoro can be the worst choice for some organizations due to its steep learning curve and relatively high cost compared to simpler alternatives. Users new to project or resource management may find the platform overwhelming, as it bundles many features that require significant configuration to use effectively. Additionally, smaller teams or businesses with basic needs might find they’re paying for more functionality than they use. Limited flexibility in customization and occasional interface sluggishness can also hinder productivity. For teams seeking a lightweight, easy-to-adopt resource management solution, Scoro may feel like overkill.

Verdict: Best Resource Management Software for CMR

Scoro Pros & Key Features

Track availability in real time
Built-in dashboard and reporting
Integrates with popular tools

Scoro Cons & Limitations

Steep learning curve
High cost
Limited customization

Scoro Pricing

Core: $19.90 per user/month billed annually
Growth: $32.90 per user/month billed annually
Performance: $9.90 per user/month billed annually
Enterprise: contact sales

Scoro Reviews

G2 review: 4.5/5
Capterra review: 4.6/5

Highlighted User Reviews

“The downside is that attaching files can sometimes be challenging.” – Ryan M., from G2
“Effortless teamwork, timely expense monitoring, and expertly crafted spending plans. Automated document flow for invoices and estimates.” – Maddie B., from Capterra

What’s the Best Resource Management Software for You?

There are many resource management software choices. The right one for you depends on what you’re looking for in a resource management tool. Some projects aren’t going to be as resource-rich, but most projects require a lot of resources and that means a lot of management.

Getting a resource management tool that helps you plan, schedule and allocate resources is crucial. Having one that’s online and provides you with real-time data to track your resources is even more important, especially in the 2025 working environment. Still, these are just some of the basic aspects you should consider when choosing a resource management tool for managing projects and teams.

Besides the feature set, don’t forget to factor in other attributes of resource management software such as the user experience, learning curve, pricing and customer service, as these things might make a difference as you implement the software in your organization.

How to Make a Project Baseline & Why It Matters

William Malsam — Wed, 21 May 2025 19:00:11 +0000

Creating a project baseline is critical in effective project management, as it sets the original plan against which progress and performance are measured. It includes key components like scope, schedule and cost, forming a fixed reference point that guides decision-making throughout the project lifecycle.

We’ll begin by defining a baseline in project management, its components and how to create one. This is important, as establishing a baseline helps teams stay aligned, manage expectations and quickly identify when things are veering off track, making it an essential tool for maintaining control and ensuring successful delivery.

What Is a Project Baseline?

A project baseline is a fixed reference point representing the original and approved plan for a project’s scope, schedule and cost. It’s established before execution begins and serves as the standard against which project performance is measured. The baseline helps project managers track whether the project is progressing as planned or deviating due to changes, delays or cost overruns.

There are typically three key components of a project baseline.

Scope baseline, which defines the approved deliverables and work required
Schedule baseline, which outlines the timeline for those deliverables
Cost baseline, which sets the approved budget for completing the work

Together, these baselines allow for ongoing monitoring and control. If changes occur, they can be compared to the baseline to assess their impact and determine whether corrective actions or formal change control processes are needed. Without a clear baseline, it’s difficult to assess project performance objectively or justify changes to stakeholders. In short, a project baseline is essential for accountability, transparency and informed decision-making throughout the project lifecycle.

Monitoring a project’s baseline is essential to controlling it and delivering on time, on budget and meeting quality standards. ProjectManager is award-winning project and portfolio management software with robust Gantt charts that can set a baseline capturing the scope, schedule and cost of the project plan and compare it to actual scope, schedule and cost in real time while executing the project. But that’s not all our Gantt charts do; they can also link all four types of task dependencies to avoid cost overruns and filter for the critical path to identify essential tasks and slack. Get started with ProjectManager today for free.

ProjectManager’s Gantt charts set baselines to help keep projects on track. Learn more

What Makes Up a Project Baseline?

As noted above, the project baseline serves as the foundation for project planning and control, acting as a benchmark against which actual performance is measured. It combines three interrelated components: scope, cost and schedule.

Each of these baselines captures an essential aspect of the project plan and, when managed together, provides a comprehensive view of how the project is expected to unfold. Once approved, these baselines are “frozen” and used throughout the project’s lifecycle to monitor progress, assess changes and guide decision-making. Let’s take a closer look at each of these core elements.

Project Scope Baseline

The project scope baseline defines what the project will deliver—and just as importantly, what it won’t. It includes three key documents: the scope statement, the work breakdown structure (WBS) and the WBS dictionary. These elements outline all project deliverables, work packages and the project boundaries. By setting a scope baseline, project teams agree on what’s included in the project, helping to prevent scope creep, maintain focus and ensure all work aligns with stakeholder expectations.

Project Cost Baseline

The cost baseline is the approved version of the project budget, excluding any management reserves. It aggregates all the estimated costs for tasks, labor, equipment and materials, organized over time. Often presented as a time-phased budget, the cost baseline allows project managers to track spending and compare actual costs to planned expenditures at specific milestones or reporting intervals. Deviations from the cost baseline can trigger corrective action or reforecasting, making it a critical tool for financial control and accountability.

Project Schedule Baseline

The schedule baseline is the approved project timeline that outlines when each task or deliverable should be completed. It’s typically visualized using tools like Gantt charts and includes task durations, start and end dates, dependencies and key milestones. The schedule baseline serves as a reference for tracking progress and evaluating whether the project is on time. When delays or accelerations occur, comparing actual performance to the schedule baseline helps assess impact and make informed rescheduling decisions.

Who Defines the Project Baseline?

Defining the project baseline is a collaborative effort that involves several key roles, each contributing their expertise, priorities and approval to ensure the baseline reflects a realistic and agreed-upon plan. While the project manager typically leads the process, stakeholders, sponsors and the steering committee all play vital roles in shaping and finalizing the baseline.

Project Manager

The project manager is primarily responsible for developing the initial scope, schedule and cost baselines. They gather requirements, estimate resources and timelines and ensure the plan aligns with organizational goals and constraints. The project manager also coordinates inputs from the team and subject matter experts, integrating them into a cohesive and feasible baseline. Once drafted, they present the proposed baseline for review and approval, and ultimately use it as a benchmark for managing the project.

Project Stakeholder

Project stakeholders—including customers, end users and internal departments—play a crucial role in defining the project baseline by providing input on needs, expectations and constraints. Their feedback shapes the scope and determines acceptable timelines and budgets. Engaging stakeholders early ensures the baseline reflects actual business requirements and avoids misalignment later in the project lifecycle.

Project Sponsor

The project sponsor is a senior leader who champions the project and ensures it aligns with strategic objectives. They review and approve the baseline, especially in terms of funding (cost) and high-level deliverables (scope). Sponsors also help resolve conflicts and remove barriers during planning. Their approval is critical to “freeze” the baseline, giving the project the authority to proceed with full backing.

Project Steering Committee

The project steering committee—often composed of executive stakeholders and functional leaders—provides governance and oversight. They typically review and endorse the project baseline for large or high-impact initiatives, ensuring it aligns with organizational priorities and risk thresholds. The committee may challenge assumptions, request revisions or make decisions on trade-offs between scope, time and cost before granting final approval.

When Should the Project Baseline Be Defined?

The project baseline should be defined at the end of the project planning phase and before project execution begins. This timing ensures that all key planning activities—such as defining the scope, estimating costs, and developing the schedule—have been completed and reviewed. By this point, stakeholder requirements should be clearly understood, resources allocated, risks assessed and approvals secured.

Establishing the baseline before work starts is critical because it provides a clear, agreed-upon benchmark against which progress can be measured. Defining it too early risks setting unrealistic expectations due to incomplete information, while defining it too late can lead to uncontrolled work, misalignment and inefficiencies. A well-timed baseline ensures the project launches with clarity, control and a shared understanding of success.

How to Establish a Project Baseline

Establishing a project baseline is a structured process that transforms planning into a concrete, measurable framework. It involves defining clear goals, outlining the work involved, scheduling tasks, estimating resources and costs and setting up a system for monitoring and control. A well-developed baseline integrates the three core components—scope, schedule and cost—into a unified plan serving as a reference point throughout the project. Below are the key steps to creating a comprehensive project baseline.

1. Define the Project Goals and Objectives

The first step is to articulate what the project is intended to achieve. This involves aligning with stakeholders to define success criteria, outcomes and key deliverables. Establishing goals and objectives sets the direction for all subsequent planning and ensures that the baseline reflects the project’s true purpose.

2. Make a Work Breakdown Structure (WBS)

A work breakdown structure (WBS) breaks the project into manageable components, starting from the highest-level deliverables and decomposing them into smaller work packages. This step is crucial for defining the scope baseline, as it provides a detailed view of all the work that must be done. The WBS ensures no part of the project scope is overlooked and forms the foundation for accurate scheduling and costing.

3. Identify the Critical Path of the Project

After defining tasks, project managers use scheduling techniques to determine the critical path—the sequence of dependent tasks that determines the minimum project duration. This forms the schedule baseline, outlining when tasks should start and finish and identifying which delays will directly impact the project timeline.

4. Estimate the Resource Requirements of the Project

To develop a realistic plan, it’s essential to estimate the types and quantities of resources, such as labor, materials, equipment and time, needed to complete each task. This step feeds directly into defining the cost baseline, as resource needs drive cost estimates and budget planning.

5. Estimate Costs and Make a Budget

With resources identified, the next step is to estimate the costs associated with each task. This includes direct costs (e.g., salaries, materials), indirect costs and contingency reserves for identified risks. When combined with management reserves for unknowns, this forms a comprehensive budget, rounding out the cost baseline.

6. Combine the Scope, Schedule and Cost Baselines

Once the individual baselines are defined, they are integrated to form the complete project baseline. This unified baseline represents the approved plan and is used to monitor performance, manage changes and assess project health throughout the lifecycle.

7. Establish Project Monitoring and Control Measures

Finally, implement tools and processes to track project performance against the baseline. This includes setting up key performance indicators (KPIs), using dashboards or tracking systems and conducting regular status reviews. These measures ensure deviations from the baseline are quickly identified, allowing for corrective actions and informed decision-making during execution.

Benefits of Establishing a Project Baseline

Establishing a project baseline offers numerous advantages that help ensure a project stays on track and meets its objectives. As a formal reference point, the baseline provides clarity, structure and a solid foundation for performance measurement throughout the project lifecycle. Here are the key benefits.

Provides a clear point of reference
Enables effective performance tracking
Improves decision-making
Facilitates change control
Increases accountability
Enhances stakeholder communication

Related Project Management Templates

While a project baseline is best created and tracked in project management software, which can filter for the critical path and track it against actual effort in real time, for those who aren’t ready to upgrade, there are free templates that can help. We have over 100 free project management templates for Excel and Word available for immediate download on our site. They cover all aspects of managing projects across many industries. Here are a few.

Critical Path Template

Download this free critical path template for Excel to identify and visualize the sequence of dependent tasks that determine the minimum time needed to complete a project. This sequence, known as the critical path, includes tasks with zero slack, meaning any delay in one of these tasks will delay the overall project timeline.

Gantt Chart Template

Use this free Gantt chart template for Excel to visually map tasks along a timeline, showing their start and end dates and duration. Named after its inventor, Henry Gantt, the chart is typically structured with a vertical axis listing project tasks and a horizontal axis representing time. Horizontal bars plotted across the timeline indicate when each task begins and ends, allowing for a clear overview of the project schedule.

Project Budget Template

This free project budget template for Excel is used to estimate, track and manage the financial aspects of a project. It outlines all the projected costs associated with the project, including labor, materials, equipment, overhead and other costs. The template organizes these costs by tasks and project phases, allowing visibility into how funds are allocated and spent.

How ProjectManager Helps Establish and Maintain a Project Baseline

As we’ve mentioned above, creating and managing a project baseline with templates is not ideal. Templates, after all, are static documents that are not up to the job of dealing efficiently with dynamic projects. Think about it, do you want to constantly leave the project to manually update a template? Let’s not even get into the lack of collaboration baked into templates.

Project management software clears those hurdles, but not all software is equal. ProjectManager is award-winning project and portfolio management software with multiple project views that are all updated in real time. Managers love our Gantt charts and sheet view, teams execute their tasks on task lists or kanban boards, while stakeholders stay updated on the calendar view.

Improve Allocation With Resource Planning

Our software goes further than multiple project views, with powerful resource management tools that allow users to assign specific resources to individual tasks. We provide visibility into hourly rates, availability workload with color-coded charts that show who is overallocated or underutilized.

Project managers can balance the team’s workload right from the chart. All this helps to align the scope of work with realistic resource capabilities. There’s also a team page for a daily or weekly summary of team activity, where tasks can be updated as needed.

See Real-Time Performance at a Glance

Some features play a critical role in maintaining and monitoring the project baseline. For a high-level overview, toggle over to the real-time project and portfolio dashboards that instantly compare actual progress against the baseline scope, schedule and cost, which helps to spot delays and cost overruns.

Data-driven reports are customizable to focus on the important data points or share progress reports with stakeholders. Even the secure timesheets help by tracking labor costs to stay on budget.

Analogous Estimating in Project Management: A Quick Guide

Camilo Tristancho — Tue, 13 May 2025 19:00:31 +0000

Most have heard of the phrase “historic data” when planning a project. It’s a way to look back at similar projects for clues as to the needs of the current one. For those who prefer a more erudite term, there’s analogous estimating.

What is analogous estimating in project management? We’ll define that term, how and when it should be used and the various types that can be employed when forecasting projects.

What Is Analogous Estimating?

Analogous estimating is a project management technique used to estimate the cost, duration or resources required for a project or task by comparing it to similar, previously completed projects. It’s a form of top-down estimation that relies on historical data and expert judgment rather than detailed analysis.

When using analogous estimating, project managers look at past projects similar in scope, complexity and scale, and use those as a reference point. For example, if a previous software development project took three months and cost $50,000, a new project with comparable features and requirements might be estimated to take a similar amount of time and budget.

Analogous estimating plays a valuable role in informing the creation of a Gantt chart, especially in the early stages of planning. Since Gantt charts are visual representations of a project schedule—including tasks, durations, dependencies and milestones—accurate time estimates are crucial to building a realistic and actionable timeline.

ProjectManager is award-winning project and portfolio management software with robust Gantt charts that schedule tasks, resources and costs. Our tool can establish milestones and link all four types of task dependencies to avoid cost overruns. It can filter for the critical path and set a baseline to track progress in real time to keep to the project plan. Get started with ProjectManager today for free.

ProjectManager’s Gantt charts turn analogous estimating into actionable plans. Learn more

When to Use Analogous Estimating

Analogous estimating is best used when a project is in its early stages and detailed information is scarce. It’s particularly useful for project managers who need to generate quick, high-level estimates based on the outcomes of similar past projects.

This technique relies heavily on historical data and expert judgment, making it ideal when time is limited, the scope is not yet fully defined or the project is similar to ones previously completed by the team or organization.

Analogous estimating helps kickstart planning discussions, set stakeholder expectations and develop initial budgets or schedules without getting bogged down in fine-grained analysis. While it may not deliver pinpoint accuracy, it’s an efficient way to make informed decisions and move forward when comprehensive data isn’t yet available.

Types of Analogous Estimating

Analogous estimating can take several forms, depending on the level of detail and accuracy required. Each type uses past project data to inform new estimates, but varies in how the estimate is calculated and applied. Here are the primary types of analogous estimating used in project management.

Single-Point Analogous Estimating: This method uses a single historical data point to estimate the cost or duration of a similar current task or project. It’s fast and straightforward, but less accurate due to its reliance on just one example.
Range-Based Analogous Estimating: Instead of a single figure, this approach provides a range (e.g., $10,000–$15,000) based on similar past projects. It accounts for variability and uncertainty, offering a more flexible outlook.
Adjusted Analogous Estimating: This type refines the estimate by adjusting the historical data to reflect differences in project scale, complexity or scope. It allows for more tailored and accurate estimates when simple comparisons don’t fully align.

How to Use Analogous Estimating to Make a Project Estimate

Analogous estimating is a practical and efficient technique used in the early stages of project planning when limited information is available. This method works best when the new project is similar in nature and scope to one or more past projects. By following a structured approach, project managers can generate reasonably accurate estimates that serve as a foundation for further planning.

1. Gather Historical Data From Similar Projects

Start by collecting data from past projects that resemble the current one. Look for initiatives with comparable objectives, deliverables, team sizes or resource demands. Ideally, this data should include cost breakdowns, timelines and performance outcomes.

2. Review Their Scope, Budget and Timelines

Analyze the selected projects in detail. Understand the full scope of work, what was delivered, how long it took and the overall budget. This context will help determine which elements of the past projects apply to the current estimate.

3. Identify Key Differences Between the Past and Present Project

No two projects are identical. Examine where your current project diverges from the historical ones. Consider factors such as team experience, technology used, market conditions or client expectations. These differences will impact the accuracy of a direct comparison.

4. Adjust Historical Costs for Inflation

To ensure your estimates are current, adjust the financial figures from historical projects for inflation or market rate changes. This ensures the cost estimates reflect today’s economic conditions and aren’t undervalued.

5. Ask for Subject Matter Expert Input

Consult with experts who were involved in the original projects or who understand the nuances of the current one. Their insights can validate assumptions, flag overlooked risks and improve the credibility of your estimate.

6. Create a Project Estimate

With all adjustments and input considered, compile the data into a structured estimate for your current project. Document the assumptions made, the sources of historical data used and any factors that could influence the estimate’s accuracy. This becomes a valuable reference point for project planning and stakeholder communication.

Benefits of Analogous Estimating

Analogous estimating offers several key advantages, especially in the early stages of project planning or when limited details are available. One of the most significant benefits is speed. Since this method relies on existing data from previous projects, it allows project managers to generate quick estimates without needing extensive breakdowns or bottom-up calculations. This is particularly helpful when stakeholders need an initial cost or time projection to make decisions or secure early approvals.

Another major benefit is simplicity. Analogous estimating doesn’t demand complex tools or deep technical analysis, making it accessible even for non-technical team members. It also helps ground estimates in real-world outcomes, increasing the likelihood of practical, experience-based planning.

Additionally, by using tried-and-tested project data, this technique can improve stakeholder confidence and support more realistic goal-setting. When combined with expert judgment and thoughtful adjustments, analogous estimating becomes a valuable tool for informed decision-making and early project alignment.

Disadvantages of Analogous Estimating

While analogous estimating is a quick and accessible approach, it comes with several limitations that project managers should be aware of. One primary disadvantage is its reliance on the accuracy and relevance of historical data.

If the past project used as a reference differs significantly in scope, complexity or environment, the resulting estimate may be misleading. This can lead to unrealistic timelines, budget overruns or resource shortages once the project is underway.

Another drawback is the method’s general lack of precision. Because it doesn’t involve a detailed analysis of each task or component, analogous estimating may overlook critical cost drivers or time constraints.

It relies heavily on expert judgment, which can introduce bias or variability if not carefully moderated. As a result, this estimating method is often best suited for early-stage planning rather than final budgeting, where a more detailed and data-driven approach may be required for accuracy.

Analogous Estimating vs. Parametric Estimating

Analogous estimating and parametric estimating are both top-down approaches used to forecast project costs and timelines, but they differ in methodology and precision. As noted above, analogous estimating in project management relies on historical data for quick, less detailed results.

Parametric estimating, on the other hand, uses statistical relationships between historical data and project variables. For example, if building one mile of road costs $2 million, then 10 miles would be estimated at $20 million.

This approach is more data-driven and precise, as it applies measurable units and known rates. However, it requires accurate, relevant data and a clear understanding of cost-driving variables to be effective.

Analogous Estimating vs. Three-Point Estimating

Analogous estimating and three-point estimating are both techniques used in project management to forecast duration, cost or resource needs, but they differ significantly in approach and accuracy.

Three-point estimating involves calculating three different estimates for each task or deliverable: the optimistic (best-case), pessimistic (worst-case) and most likely scenario. These three estimates are then averaged—often using the PERT (program evaluation and review technique) formula—to arrive at a more balanced and realistic projection.

This method helps account for risk and uncertainty, making it more comprehensive and accurate, though also more time-consuming to perform.

Free Related Project Management Templates

Analogous estimating is one of many tools to forecast project duration, cost and more. Below are a few of the over 100 free project management templates for Excel and Word that cover all aspects of managing projects across multiple industries. These free templates are useful when planning projects.

Project Estimate Template

Download this free project estimate template for Excel to calculate and present the anticipated costs, timeframes and resources required to complete a project. It serves as a standardized framework that helps project managers gather, organize and communicate all key estimating information in one place.

Project Budget Template

Use this free project budget template for Excel to track and manage the financial aspects of a project. It provides a structured way to estimate, allocate and control project costs across various categories such as labor, materials, equipment, overhead and more.

Cost Benefit Analysis Template

A cost-benefit analysis is used to evaluate the financial pros and cons of a project, decision or investment. This free cost benefit analysis template for Excel helps decision-makers compare the total expected costs of a project against its anticipated benefits, expressed in monetary terms.

How ProjectManager Helps Estimate Project Costs

Whether using analogous estimating techniques or templates, once the calculations are complete, the work of delivering the project is paramount. It will not be done on templates, which are simply not efficient for something as complex as project management. Professionals use project management software, and the smart ones select

ProjectManager is award-winning project and portfolio management software with multiple project views. This allows project managers to plan costs on Gantt charts and teams to execute their tasks on kanban boards or task lists, which are updated in real time to help track costs and other metrics. There’s also a calendar view that shows the project over a month.

Stay Productive With Resource Tracking Features

To keep to the budget and schedule, resources must be efficiently allocated and tracked. That starts on the Gantt chart and then, when onboarding teams, availability, skills and pay rates are set. This helps assign the right resources to the right tasks at the right time.

Project managers can then view resource allocation in real time for one or multiple projects on the color-coded workload chart. It’s easy to see who is overallocated or underutilized and balance the team’s workload from the chart. This keeps everyone working at capacity but avoids burnout. There’s also a team page for daily or weekly summaries of their activities. It can be filtered by progress or priority, and tasks updated without leaving the page.

Keep Track of Metrics With Real-time Dashboards and Reports

Resources aren’t the only part of a project that must be monitored and controlled during the execution phase. For a high-level overview of key project metrics, toggle to the real-time project or portfolio dashboards. They don’t require any setup and are automatically collecting live data, which is displayed on easy-to-read graphs and charts that show time, cost, workload and more.

Customizable reports go deeper into status, variance, timesheets, workload and more, focusing on specific data points or general information to share with stakeholders. Secure timesheets streamline the payroll process, but also track labor costs to help stay on budget.

Project Financing Basics: How to Fund a Project

Brenna Schwartz — Fri, 11 Apr 2025 19:00:00 +0000

Projects are expensive. Project financing is how they acquire the funding to pay for the project. To understand this process, one must begin with the meaning of project financing and then work towards the various methods of getting it.

We’ll go over that, explore various project financing sources, explain the process of getting that financial support and provide an example to see how this plays out in the real world. We’ll end by sharing some free templates to help estimate costs, budget and more.

What Is Project Financing?

Project financing refers to the process of securing and managing the financial resources needed to execute a project. It involves structuring funding arrangements, identifying financial sources and ensuring the project remains financially viable. Unlike traditional funding, project financing often relies on future project revenue as collateral.

The financial plan directly impacts project scheduling and the creation of a Gantt chart by dictating timelines, resource allocation and milestone planning. The availability of funds influences project start dates and the scheduling of different phases within the Gantt chart. It also ensures that sufficient liquidity is available throughout the project life cycle to cover expenses and maintain financial stability.

ProjectManager has award-winning Gantt charts that can improve various aspects of project financing. The Gantt chart is the ideal way to visualize the timeline and cash flow in one place, making it seamless to determine when costs are likely to be incurred and when payments are expected. As the project progresses, see how the budget is distributed across different phases and activities to keep an eye on potential overruns.

Schedule tasks, resources and their associated costs in one convenient location
Link all four types of task dependencies to avoid cost overruns and filter for the critical path
Set a baseline to track planned resource costs against actual resource costs in real time to stay on budget. Try it free

ProjectManager’s Gantt charts turn project financing into actionable budgets. Learn more

Project Financing Methods

Project financing methods refer to how projects secure the necessary funds to cover costs and ensure successful execution. Most projects utilize a combination of financing methods, including bank loans, government grants, private investments and crowdfunding, to mitigate risks and maintain financial stability.

The choice of financing method depends on factors such as project size, industry and risk tolerance. Understanding these financing methods helps project managers plan budgets effectively and align funding with project timelines. Below are common project financing methods.

Debt Financing

Debt financing involves borrowing funds from external sources such as banks, financial institutions or capital markets, with a commitment to repay the principal plus interest over a defined period. It’s commonly used in project financing when the project has predictable revenue streams. Lenders may require collateral, such as project assets or future cash flows. This method allows project sponsors to retain full ownership, but increases financial risk due to required repayment regardless of the project’s success.

Bank Loans/Term Loans: Most common for medium-to-large projects; often secured by project assets.
Bonds (Project Bonds): For large-scale public infrastructure (e.g., toll roads, hospitals). Investors buy bonds expecting repayment from project revenue.
Syndicated Loans: A group of banks lends together for large projects to spread risk.
Government-backed Loans/Development Bank Loans: Offered by institutions like the World Bank, IFC or national development banks—often for infrastructure or emerging markets.

Equity Financing

Equity financing refers to raising capital by offering ownership stakes in the project to investors, typically in exchange for funding. Investors become shareholders and are entitled to a portion of profits, usually through dividends or capital gains. Unlike debt, equity doesn’t require fixed repayments, making it less risky for cash flow in the early stages. However, it dilutes control and potential returns for original sponsors. It’s often used for high-risk or early-stage projects lacking steady income.

Sponsor Equity: The project owner or developer puts up their own capital.
Private Equity/Institutional Investors: Especially common in energy, infrastructure and real estate.
Public-Private Partnerships (PPPs): Government and private firms co-invest, often with shared control and benefits.

Hybrid Methods

Hybrid financing combines debt and equity to balance financial risk and control. It allows sponsors to access larger capital pools while limiting dilution of ownership and controlling leverage. Typically, debt is used for predictable income segments of the project, while equity absorbs early-stage risks. This mix helps optimize capital structure by reducing the cost of capital and attracting different types of investors. Common in large-scale infrastructure and energy projects, this approach aligns stakeholders’ interests while enhancing financial sustainability.

Project Finance Model (non-recourse or limited-recourse): This is where the project’s cash flow repays the debt, not the parent company’s assets. It’s a hybrid setup with both equity and long-term debt.

Alternative or Complementary Financing

Alternative financing includes non-traditional sources like government grants, public subsidies, vendor financing, lease arrangements or crowdfunding. These methods often supplement primary funding sources and can make a project more financially feasible or socially attractive. Grants and subsidies lower capital costs, while vendor financing defers payments for equipment or services. Lease financing spreads out expenses for major assets. These options are especially useful when conventional funding is insufficient or too costly, and they help reduce upfront capital requirements for sponsors.

Grants or Subsidies: Especially for public or social-impact projects (e.g., renewable energy, education).
Vendor/Supplier Financing: Contractors or equipment providers allow deferred payment over time.
Lease Financing: Equipment or property is leased rather than purchased up front.

Project Financing Sources

Project financing sources typically come from a mix of debt, equity and government support, with risks allocated among various stakeholders. Below are key financing sources that enable project developers to secure the necessary capital for successful execution.

Commercial Banks: Traditional lenders that provide debt financing, often in the form of loans or credit lines. They typically require strong creditworthiness and collateral.
Development Banks and Multilateral Institutions: Entities like the World Bank, European Investment Bank (EIB) and Asian Development Bank (ADB) provide long-term financing, particularly for large-scale or sustainable projects in emerging markets.
Export Credit Agencies (ECAs): Government-backed institutions that offer loans, guarantees or insurance to support the export of goods and services related to infrastructure.
Institutional Investors: Pension funds, insurance companies and sovereign wealth funds that invest in large-scale, long-term projects with stable returns, such as production and distribution infrastructure.
Project Sponsors: Companies or consortia that initiate and finance projects, often through a combination of equity investment and strategic partnerships.
Government or Public Sector Agencies: National and local governments provide grants, subsidies, tax incentives and loan guarantees to encourage adoption and development.
Venture Capitalists (VCs): Investors specializing in high-risk, high-reward opportunities, typically funding innovative startups and early-stage technologies.
Crowdfunding Platforms: Digital platforms that enable small investors and the general public to contribute capital to projects, often in exchange for equity or rewards.

Each of these financing sources plays a critical role in the growth of the economy, ensuring the sector receives the necessary capital to scale up and become a mainstream energy solution.

Project Financing Process

Project financing follows a structured approach to secure the necessary capital while mitigating risks. It involves defining the project, assessing its feasibility and securing funding from suitable sources. Each step ensures that investors and lenders have confidence in the project’s viability and potential returns. Below are the key steps involved in the project financing process:

Define the Project Purpose, Goals and Objectives: Clearly outline what the project aims to achieve, its strategic importance and expected outcomes.
Define the Project Scope and Resource Requirements: Determine the project’s scale, technical requirements, timeline and necessary resources such as capital, technology and workforce.
Write a Business Case: Develop a structured business case document that justifies the project by detailing its benefits, costs, risks and alignment with strategic goals.
Conduct a Feasibility Study: Assess technical, economic, environmental and legal factors to determine if the project is feasible and sustainable.
Perform a Cost-Benefit Analysis: Compare expected costs against anticipated benefits to evaluate financial viability and return on investment.
Choose a Project Funding Method: Decide on the financing structure, such as debt financing, equity investment, public-private partnerships or a combination of sources.
Identify Potential Project Funding Sources: Explore various funding options, including commercial banks, government grants, venture capital and institutional investors.
Prepare a Funding Proposal and Submit to Funders: Develop a detailed proposal outlining the project’s value, risks and financial projections, then present it to potential investors or lenders.
Finalize Agreements and Secure Funds: Negotiate terms, sign agreements and secure the necessary funds to initiate the project’s implementation.

This structured process ensures that projects are well-planned, financially sustainable and attractive to investors and lenders.

Project Financing Example

The best way to understand project financing is to analyze an example. Let’s imagine a large city that needs to build a subway system to benefit 1.5 million residents. Because of the size and complexity of the project, it requires a hybrid financial model with funding from both public and private funding sources.

Project Overview

Name: MetroLink Underground Subway Line (Phase 1)
Location: Midville City
Scope: 15 kilometers of new underground subway track, 12 stations and 20 trains
Estimated Cost: $1.2 billion
Timeline: 5 years (including design, construction and testing)
Revenue Model: Fare collections and government subsidies

Funding Structure (Hybrid Financing Model)

Source	Type	Amount	% of Total
Government Grant	Public Funds	$300 million	25%
Development Bank Loan	Debt	$500 million	41.7%
Private Equity Investors	Equity	$200 million	16.7%
Municipal Bonds	Debt	$200 million	16.7%

Project Financing Activities

A Special Purpose Vehicle (SPV) named MetroLink Transit Co. is created to manage the project.
The government provides an upfront grant to cover initial planning and early construction phases.
A development bank loans $500 million at a favorable interest rate, to be repaid over 25 years using revenue from ticket sales.
Private equity investors contribute $200 million in exchange for partial ownership and a share of future profits.
The city issues municipal bonds to raise $200 million in long-term debt, which will be repaid through a portion of local transit taxes.

Revenue and Repayment Plan

Estimated annual fare revenue: $100 million.
Government subsidies will support operations during the first five years after launch.
All debt obligations (loans and bonds) are scheduled to be repaid over 20–25 years from fare revenue and designated tax allocations.
Equity investors receive dividends once the project becomes cash-flow positive.

Related Project Management Templates

Some templates can help with project financing. Of the over 100 free project management templates we offer for download on our site, which cover all aspects of managing a project across multiple industries, here are some that can help with the financial part of the project.

Cost Benefit Analysis Template

Download this free cost-benefit analysis template for Excel to compare the costs and benefits of a project, investment or decision. It helps stakeholders determine whether the benefits outweigh the costs and assess financial viability.

Project Estimate Template

Use this free project estimate template for Excel to forecast the total costs, resources and time required to complete a project. It helps stakeholders plan budgets, allocate resources and choose the right bid for the project.

Project Budget Template

A project budget is used to outline and track all estimated and actual costs associated with a project. This free project budget template for Excel helps project managers allocate funds, monitor expenses and ensure financial control throughout the project lifecycle.

How to Manage Projects With ProjectManager

Project financing sets the field for the planning, managing and tracking of the project. But one must not be penny-wise, pound-foolish. In other words, don’t think using templates will save the project money. It won’t. Templates are static documents not designed to deal with the dynamic nature of a project. Project management software is made for the work. But not all project management software is equal.

ProjectManager is award-winning project and portfolio management software that has multiple project views. Managers can schedule costs and more on Gantt charts, while teams execute their work on kanban boards and task lists. The calendar view is ideal for getting a monthly overview of the project.

Use Resource Planning to Stay on Budget

Scheduling resources and their associated costs on the Gantt chart is just the beginning. Next, when onboarding teams, set their availability, including PTO, vacation and global holidays, but also pay rates and skill sets. This allows project managers to assign the right resources to the right tasks at the right time and avoid cost overruns.

Project managers can also get an overview of the resource allocation for one or more projects by viewing the color-coded workload chart. It shows who is overallocated or underutilized. The team workload can be balanced to keep everyone productive, which saves money. For a summary of team activity, use the team page, which can show daily or weekly activity and edit tasks without leaving the page.

Track Costs and More on Real-Time Dashboards and Reports

To ensure that the project is keeping to its budget, project managers can get a high-level overview of key metrics on the real-time dashboards. The portfolio summary dashboard, for example, automatically collects data on project pipelines, costs, budgets and more. This unique and personalized view can improve planning at an organizational level.

To go deeper into the data, customizable reports on status, variance, workload, timesheets and more can be filtered to focus on specific data points or a more general view of progress that can then be shared with stakeholders. Secure timesheets do more than streamline payroll, they monitor labor costs to keep projects on budget.

How to Conduct a Needs Assessment

Camilo Tristancho — Tue, 08 Apr 2025 19:00:06 +0000

Goals are set easily enough, but reaching them takes work. Sometimes that work is falling short, and project teams need to figure out why and how to get back on pace to meet their goals. For that, they use something called a needs assessment.

But what is a needs assessment, often called a needs analysis? We’ll answer that first before going into when one should take place and how to do it. To better understand, we’ll share an example and even a template to help readers get started.

What Is a Needs Assessment?

A needs assessment is a systematic process to identify and evaluate gaps between a current situation and desired outcomes. It helps organizations, teams or individuals determine what resources, skills or improvements are necessary to achieve their goals. By understanding what is lacking or what areas need enhancement, decision-makers can prioritize actions and allocate resources effectively.

Needs analysis can highlight areas where performance, knowledge or resources are insignificant. It can also help organizations focus on the most critical needs to maximize impact and provide data-driven insights to guide planning, budgeting and resource allocation. This improves efficiency by ensuring that time and resources are used on initiatives that directly address actual needs.

Once the needs assessment identifies gaps, priorities and the necessary resources, project managers can translate those findings into actionable tasks and milestones. This can be visualized on a Gantt chart, which is often a feature in project management software, to build an accurate and effective project timeline.

ProjectManager is award-winning project and portfolio management software with robust Gantt charts that turn needs assessments into scheduled tasks, resources and costs. Our Gantt chart goes further by linking all four types of task dependencies to avoid cost overruns. It also filters for the critical path and can set a baseline to track progress in real time. Multiple project views give teams the tools they need to execute their work, such as kanban boards and task lists, while stakeholders can monitor progress on the calendar view. Get started with ProjectManager today for free.

ProjectManager’s Gantt charts turn a needs assessment into actionable plans. Learn more

When to Conduct a Needs Assessment

Conducting a needs assessment at the right time ensures that resources are used efficiently and decisions are based on accurate information. Whether planning a new initiative, improving existing processes or addressing challenges, knowing when to perform a needs assessment can make all the difference.

A needs assessment is typically conducted at critical decision points, such as the start of a project, during periods of organizational change or when performance issues arise. By assessing the current state and comparing it to desired outcomes, organizations can develop targeted strategies and avoid unnecessary spending or misaligned efforts. Here are some examples of when it’s opportune.

Business Strategy & Market Research: To identify gaps in products, services or market demand before making strategic decisions.
Project Management: To define project requirements and ensure alignment with stakeholder expectations.
Training & Workforce Development: To determine skill gaps and design employee training programs.
Healthcare & Public Services: To assess community needs for healthcare, education or social services.
Education & Curriculum Design: To align courses with student learning needs and industry requirements.
Technology & System Implementation: To evaluate user needs before deploying new software, tools or infrastructure.
Process Improvement & Quality Management: To identify inefficiencies and areas for optimization.
Grant Writing & Policy Development: To justify funding requests and design effective policies based on community or organizational needs.

How to Conduct a Needs Assessment

Conducting a needs assessment is a structured process that follows a systematic approach, where teams can gather relevant data, engage key stakeholders and develop actionable solutions. Each step in the process builds upon the previous one, ensuring that the final recommendations are well-informed and aligned with organizational goals. To do one, follow these seven steps.

1. Establish the Purpose and Scope of the Needs Assessment

Begin by defining the reason for the assessment and what you hope to achieve. Clarify the specific problems or opportunities you are addressing, and determine the boundaries of the assessment. A clear purpose and scope ensure that efforts remain focused and actionable.

2. Identify Key Stakeholders

Engage the individuals or groups directly or indirectly affected by the assessment’s findings. This may include employees, managers, customers or community members. Involving stakeholders early ensures diverse perspectives are considered and increases buy-in for the proposed solutions.

3. Collect Data

Gather relevant information through surveys, interviews, focus groups, observations or reviewing existing data. Use both qualitative and quantitative data to get a comprehensive view of the current situation. Reliable data serves as the foundation for identifying and understanding gaps.

4. Define the Gap Between Current and Desired State

Analyze the data to compare the existing conditions to the ideal outcomes. This step helps identify where shortfalls exist and what is preventing the organization from reaching its goals. Visual tools like charts and graphs can make gaps more apparent.

5. Identify Deficiencies and Needs to Close the Gap

Determine the specific issues that must be addressed to bridge the gap. This could include a lack of resources, insufficient training, inefficient processes or missing infrastructure. Prioritize needs based on their impact and feasibility.

6. Develop an Action Plan

Create a detailed plan outlining how to address the identified needs. Define actionable steps, assign responsibilities, set timelines and allocate resources. A well-structured action plan provides a clear roadmap for implementation.

7. Monitor and Report on Progress

Once the action plan is underway, establish a system to track progress and measure outcomes. Regular reporting and feedback from stakeholders help ensure the plan remains effective. Adjustments can be made as needed to keep efforts on track and aligned with goals.

Needs Assessment Example

This is very abstract, of course. For many, the concept and process become clearer when illustrated in a real-life example. Let’s look at how a needs analysis works in an industry like construction.

The above example shows the various stakeholders and the current state of the business. It also defines its client relations and marketing positioning. This leads to the prioritization of needs, recommendations and next steps. There’s also a section to monitor and evaluate the actions taken.

Needs Assessment Template

Download this free needs assessment template to guide the process of identifying and evaluating gaps between the current state and desired outcomes. It provides a clear framework for collecting data, analyzing findings and developing actionable recommendations.

Organizations can use this free template to ensure a consistent and thorough approach to their needs assessment. It streamlines the process, promotes consistency across projects and makes sure that all relevant factors are considered when making decisions.

Benefits of Conducting a Needs Assessment

To reiterate, a needs assessment is a valuable tool that helps organizations achieve their goals by creating targeted solutions that drive meaningful improvements. Whether used in project planning, organizational development or community initiatives, a needs assessment helps ensure efforts are aligned with actual needs. Here’s a list of those advantages.

Informed Decision-Making: Provides data-driven insights to guide strategic planning and resource allocation.
Efficient Resource Use: Ensures time, budget and personnel are focused on the most critical needs.
Improved Problem Solving: Identifies root causes of challenges, leading to more effective solutions.
Enhanced Stakeholder Engagement: Involves relevant stakeholders, fostering collaboration and support.
Measurable Results: Establishes clear benchmarks for tracking progress and evaluating success.
Reduced Risk: Minimizes the likelihood of project failure by addressing potential issues early.
Increased Accountability: Creates transparency and clarity on objectives, responsibilities and timelines.

How to Manage Needs Assessment Projects With ProjectManager

Managing the needs analysis and the project that comes from that process requires more than a template. Templates are fine in their place, but these static documents are not equipped to deal with the dynamic nature of managing projects. Project management software has the tools to plan, manage and track that work. ProjectManager is award-winning project and portfolio management software that streamlines planning, data collection, analysis and reporting. It allows teams to collaborate, tracks progress and makes sure that actionable insights are turned into successful outcomes.

Allocate Resources Effectively

To ensure that each phase of the assessment is completed without delays or resource constraints, start by scheduling them on the Gantt chart. Then, when onboarding the team, set their availability to streamline assignments. For an overview of resource allocation, go to the workload chart. It’s color-coded, which makes it easier to see who is overallocated or underutilized.

Project managers can balance their team’s workload from the chart to keep everyone working at capacity without worrying about burnout. There’s also a team page that provides a daily or weekly summary of team activity. It can be filtered by priority or progress, and tasks can be updated right from that page.

Track Progress With Real-Time Dashboards and Reports

For the monitoring and evaluation phase of the needs assessment, several tools can help keep the project on track. For a high-level overview, toggle to the real-time project or portfolio dashboards. They show metrics, such as time, cost, workload and more, on easy-to-read graphs and charts.

Customizable reports on status, variance, timesheets, workload and more show progress, other findings and provide actionable insights. They can also be shared with stakeholders to keep them updated. Even our secure timesheets help keep projects on budget by monitoring labor costs.

How to Make a Project Budget: Project Budgeting Basics (Templates Included)

Jennifer Bridges — Mon, 07 Apr 2025 15:50:30 +0000

If you don’t have the funds, you’re not going to complete the project successfully. That’s why a project budget is so important: it’s the lifeblood of the project. Follow these steps to secure the funds necessary to support the project through every phase. But first, we need to define what a project budget is.

What Is a Project Budget?

A project budget is the total projected costs needed to complete a project over a defined period of time. It’s used to estimate what the costs of the project will be for every phase of the project. Creating a project budget is a critical part of the project planning process.

The project budget will include such things as labor costs, material procurement costs and operating costs. But it’s not a static document. Your project budget will be reviewed and revived throughout the project, hopefully with the help of project budgeting software.

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Project Budget Template

Use this free Project Budget Template to manage your projects better.

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Why You Need a Project Budget

The obvious answer is that projects cost money, but it’s more nuanced than that. The project budget is the engine that drives your project’s funding. It communicates to stakeholders how much money is needed and when it’s needed. Project budgets are important for any industry such as construction, marketing or manufacturing, for example.

But a project budget is not only a means to get things that your project requires. Yes, you need to pay teams, buy or rent equipment and materials, but that’s only half the story. The other part of the importance of a project budget is that it’s an instrument to control project costs. The budget, which is part of your project plan, acts as a baseline to measure your performance as you collect the actual costs once the project has been started.

Who Is Involved in Setting and Managing a Project Budget?

Several key stakeholders are typically involved in setting and managing project budgets. First, the project sponsor (such as a senior executive or manager) will secure and approve the initial project funding. They outline the project’s financial expectations and limitations. The sponsor also has the authority to approve major budget revisions or the allocation of contingency funds.

Then, the project manager will develop a detailed budget. They create a budget plan and break down the project scope and estimate costs for tasks, resources and deliverables. They will manage the budget throughout the project and provide regular financial reports to the sponsor and other stakeholders. The project team may also be involved, as team members with specific expertise can contribute to estimating the costs associated with their tasks and required resources.

What Is Project Budgeting?

Project budgeting is the process of estimating the full cost of the project from the very beginning until the end. The project budgeting process involves the following:

Budget planning: Estimating costs and making a budget based on a project estimate
Budget tracking: Keeping track of project expenses during the project execution phase
Project budget management: Setting guidelines and control procedures to guarantee that costs don’t exceed the project budget

Project Budgeting Approaches

There are four project budgeting approaches: analogous, parametric, top-down and bottom-up. Analogous is an estimating technique that uses historical data to help determine the cost of the current project. It looks at past projects that are similar to figure out the cost and duration of the new project. This is a popular choice when there’s little data available for the project, making accurate estimates difficult.

Parametric estimating is a statistical approach to estimating the time, cost and resources for a project. It uses historical data, but also statistical data, to make a more accurate estimate. Top-down estimating is when the organization sets the cost and/or the duration of the project. With that figure in mind, the project manager seeks expert opinions to help determine the budget. Finally, bottom-up estimating is working from the lowest possible level of detail. It builds up the estimate from the work package.

What Is Project Budget Management?

Project budget management is a process by which the finances related to the project are administered and overseen. It goes beyond estimating the cost of completing the project and includes tracking those costs and much more. Some of the aspects of project budget management include how you’ll estimate the cost of the project and how those costs will be spread across the life cycle of the project. You’ll need to determine the metrics and the method by which you’ll track those costs to keep to the budget.

Reporting on the budget is also part of project budget management, including how you’ll do it and the frequency with which you’ll do it. If you find you’re going over budget, you’ll need to come up with a plan to rein the budget back in. You’ll even need to define a process of learning from historical data.

Project management software simplifies project budgeting and project budget management. Take ProjectManager; all you have to do is open up the settings on your Gantt and set a budget baseline. Now you have the planned effort saved and you can use budget tracking features such as real-time dashboards to compare it to your actual effort as you execute the project. You can reset the baseline as many times as you need during the project to always be able to measure your project variance instantly. Get started today for free.

Set baselines, track costs and more with our award-winning Gantt charts. Learn more

How to Make a Project Budget

As noted, there are many components necessary to build a budget, including direct and indirect costs, fixed and variable costs, labor and materials, travel, equipment and space, licenses and whatever else may impact your project expenses.

To meet the financial needs of your project, a project budget must be created thoroughly, not missing any aspect that requires funding. We’ve outlined seven essential steps toward creating and managing your project budget:

1. Use Historical Data

Your project is likely not the first to try and accomplish a specific objective or goal. Looking back at similar projects and their budgets is a great way to get a headstart on building your budget.

2. Reference Lessons Learned

To further elaborate on historical data, you can learn from their successes and mistakes. It provides a clear path that leads to more accurate estimates. You can even learn about how they responded to changes and kept their budget under control. Here’s a lessons learned template if you need to start tracking those findings in your organization.

3. Leverage Your Experts

Another resource to build a project budget is to tap those who have experience and knowledge—be they mentors, other project managers or experts in the field. Reaching out to those who have created rough order of magnitude estimates and budgets can help you stay on track and avoid unnecessary pitfalls.

4. Confirm Accuracy

Once you have your budget, you’re not done. You want to look at it and ensure your figures are accurate. You can use our project budget proposal template for this process. You can also seek those experts and other project team members to check the budget and make sure it’s right.

5. Baseline and Re-Baseline the Budget

Your project budget is the baseline by which you’ll measure your project’s progress once it has started. It’s a tool to gauge the variance of the project. But, as stated, you’ll want to re-baseline as changes occur in your project. Once the change control board approves any change you need to re-baseline.

6. Update in Real Time

Speaking of changes, the sooner you know about them, the better. If your project planning software isn’t cloud-based and updating as soon as your team changes its status, then you’re wasting valuable and expensive time.

7. Get on Track

The importance of having a project management software that tracks in real time, like ProjectManager, is that it gives you the information you need to get back on track sooner rather than later. Things change and projects go off track all the time. It’s the projects that get back on track faster that are successful.

If you manage your project expenses using these building blocks you’re going to have a sound foundation for your project’s success.

Project Budget Template

If you want help getting your budget together, ProjectManager has a free project budget template that lays out most of the basics for you. For additional support, try our free project budget template.

Project Budget Example

To further illustrate how a project budget is created, let’s pretend we’re making an app. The first thing you’ll need to figure out is the costs of labor and materials. You’ll need programmers, designers, content developers, a dev team, etc. It helps list all the tasks and assign the team to them—a hallmark of good task management. This way every penny is accounted for.

With the tasks broken down for the project and your team in place, you’ll next need to look into whatever materials will be needed. Will they need laptops, other devices and equipment? This must be accounted for.

Now note other line items. There might be travel expenses and renting space to house the team. Then there are fixed items that are true for any project. These are things where the cost is set and won’t change over the course of the project. You’ll also want a column for any miscellaneous costs that don’t fit elsewhere in the budget.

Your budget must have a planned versus actual column. When you’re making that app you’ve likely to pivot and that is going to impact the budget. These columns are a way to track the expenditure to ensure you’re staying on budget.

How to Manage a Project Budget

When managing a project budget, use a continuous process of planning, tracking, controlling and adjusting finances. During the planning stage, define the project scope and understand the deliverables, tasks and requirements. A work breakdown structure (WBS) can help break the project down into smaller, more manageable tasks to estimate costs more accurately. Each project activity should also have cost estimations such as labor, material, travel, equipment, subcontractor or software costs.

While we touched on documents and how they’re essential for tracking, be sure to specifically use timesheets, invoices from suppliers and subcontractors, receipts for materials and expense reports.

Analyzing budget performance may consist of comparing planned vs. actual costs and calculating the variance between them. This helps identify trends and can outline if certain types of expenses are consistently under or over budget.

Controlling a Project Budget

When controlling a project budget, establish change control procedures, or a formal process for managing changes to the scope, schedule and budget. Control can also consist of regular budget reviews, negotiating better supplier rates and contingency management. More complex projects may benefit from earned value management (EVM) to track the project performance against the baseline schedule and budget simultaneously.

Finally, when adjusting the project budget, develop a plan if an overrun is projected. This could mean cost-cutting measures, scope adjustments (pending approval) or getting additional funding.

Project Budget vs. Project Estimate

We’ve spent a lot of time talking about project estimates, but how do they differ from the project budget? A project estimate is what you think the project will cost. It’s the first step when making a project budget, so you want that project estimate to be as accurate as possible. Once you’ve done the research, looked at historical data and all the activities and resources needed to execute them, you’ll submit that estimate to be approved as your budget. But it’s only a guideline, while the project budget is a firm figure.

Free project estimate template for Excel. Download now

Project Budget vs. Budget Proposal

Again, when you’re talking about a project budget you’re talking about all the expenditures that are needed to deliver the project. It defines how the money for the project will be allocated. A budget proposal, on the other hand, is the best estimate of the costs required to complete the project. It’s similar to the aforementioned project estimate in that it’s the final project estimate, the one that’ll be presented to stakeholders. They’ll then determine if the figure matches what they think is viable and either approve it or reject it.

Free budget proposal template for Excel. Download now

More Project Budgeting Templates

Project budgeting is one of the most important aspects of project management, no matter what industry you’re in. However, your project budget might look slightly different depending on the type of project you’re managing. Here are some free project budgeting templates for marketing, event planning and construction.

Marketing Budget Template

This marketing budget template is a great tool to start creating accurate baselines for your marketing campaigns. You can customize it to fit the needs of your team.

Event Budget Template

Like a project, an event requires resources that cost money. This free event budget template helps you list down the costs related to your event such as equipment rental, materials and labor.

Construction Estimate Template

Estimating the costs of a construction project is one of the most important construction planning activities there are, as an accurate cost estimation allows construction firms to make sure their project is not only feasible, but profitable. This free construction estimate template is a great tool to start estimating the costs of your construction project.

Project Budgeting Tips

A project budget is extremely important; without the funds to execute a project, it’s dead in the water. We’ve explained what a project budget is, and how to make one and we’ve provided examples. But when you’re in the thick of it, you need tips. These will help you with project budgeting.

Document your process when putting together a budget. Documents are essential for tracking the project and reviewing the outcomes.
Create contingencies. Have a plan B in place. There will always be unexpected costs, delays and other issues that’ll impact your budget.
Project budgeting is a team effort. Seek advice from your team, as they’re the ones with experience executing projects. Meet with experts who can provide you with guidance. Any person or organization that has insight should be tapped for their expertise.
Know your resources and their associated costs. This includes any maintenance required for equipment, and don’t forget your team is also a resource. Know their availability, overtime potential and other overhead costs.
When estimating costs don’t forget about task duration. These are also estimates and can greatly impact the budget.
The budget is a great tool for tracking performance. It can even be used as a communication tool for teams across departments.

ProjectManager Helps Projects Stay on Budget

ProjectManager is online project management software. That means we deliver data instantly to our real-time dashboard, so you can monitor your project across six metrics. When actual costs vary from your planned budget, you know faster and can respond quicker.

Track your planned vs. actual cost on a live dashboard from ProjectManager. Try it free!

You can also plan your budget on our software, adding expenses and then use our resource management feature to assign resources, workforce and hourly rates, which are automatically added to your project. Add expenses at the task level with our Gantt chart, and report on expenses at the task level, too.

There’s so much you can do to plan and manage your budget with ProjectManager, which is free for 30 days with this trial offer.

Video: Project Budgeting Tips

It’s clear that building an accurate budget is key to setting up your project to succeed. Why not take a moment to listen to our resident project management expert Jennifer Bridges, PMP, who explains how to build a project budget in this tutorial video.

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Pro tip: Be sure to track the budgeted vs. actual costs when you’re in the project to see if you’re adhering to that budget. Because after you make a budget, you have to know how to manage it.

Value Engineering in Construction: Phases & Techniques

Brenna Schwartz — Thu, 03 Apr 2025 19:00:27 +0000

Construction project management is designed to deliver projects on time and on budget while maintaining or improving quality. Value engineering in construction is one method general contractors use to achieve those goals.

What is value engineering in construction? We’ll answer that question and show how to implement it through various techniques. Then it’ll become apparent why this benefits anyone involved in construction projects.

What Is Value Engineering in Construction?

Value engineering in construction is a systematic method aimed at improving the value of a project by optimizing its function while reducing costs. It involves analyzing project components, processes and materials to find the most efficient and cost-effective solutions without compromising quality, safety or performance.

The goal of value engineering is to maximize the return on investment (ROI) by identifying unnecessary costs and eliminating them through alternative approaches. This process typically occurs during the design phase, but can also be applied during construction to find more economical methods.

Value engineering in construction works by function analysis, which identifies the essential functions of a project component. It then applies cost reduction by finding less expensive materials or construction methods without sacrificing quality. This involves creative problem solving to find innovative solutions to meet project objectives by collaborating with stakeholders, designers, engineers and contractors.

Project management software can help with value engineering in construction. These tools have a suite of features that can support cost control, resource management and project optimization throughout the project lifecycle.

ProjectManager is award-winning construction project management software with budget and cost management tools. Gantt charts can schedule tasks, resources and costs, helping construction managers identify areas where costs can be reduced without affecting the project’s quality or performance. More than that, our Gantt charts link all four types of task dependencies to avoid cost overruns, filter for the critical path to manage slack and can set a baseline to monitor expenditures in real time to spot inefficiencies early for better decision making for cost reduction. Get started with ProjectManager today for free.

ProjectManager’s Gantt charts help with value engineering in construction. Learn more

How to Implement Value Engineering in Construction

Implementing value engineering in construction is a systematic process aimed at optimizing a project’s value by balancing function and cost. The goal is to achieve the best possible outcome by identifying cost-effective alternatives without sacrificing quality or performance. This approach is typically employed during the design and planning stages, but can also be applied during construction to identify and implement efficiencies.

The process of value engineering follows a structured methodology divided into distinct phases. These phases guide the team in analyzing and improving the project in terms of function, cost and feasibility. Here are the key phases in implementing value engineering in construction.

Information Phase

In the information phase, the project team gathers all necessary data and documentation related to the project, including specifications, design plans and budget information. This phase focuses on understanding the project’s scope, objectives and constraints, providing a clear picture of the current state before any changes are made. The more comprehensive the data collected in this phase, the better the analysis and decision-making in later stages.

Function Analysis Phase

During the function analysis phase, the project team identifies and defines the essential functions of each component or aspect of the project. This phase helps to understand what the project needs to achieve and the core functions of each item or process. By breaking down each function and its associated costs, the team can determine where value improvements or cost savings can be made without affecting the project’s overall performance.

Creative Phase

The creative phase is where the team brainstorms and explores all possible alternatives or innovative solutions to achieve the same functions more efficiently or cost-effectively. No idea is off-limits during this phase, and the focus is on creativity and problem-solving. The team can propose different materials, processes, technologies or design modifications that can help lower costs while still delivering the intended outcomes.

Evaluation Phase

In the evaluation phase, the ideas and alternatives generated during the creative phase are reviewed and assessed based on their feasibility, cost-effectiveness and impact on the project. This phase involves conducting a detailed analysis to determine which alternatives offer the greatest value for the lowest cost. Criteria such as performance, risk and implementation time are weighed against the potential savings or benefits.

Development Phase

After evaluating the alternatives, the most promising options are taken forward for further development in the development phase. This phase involves creating more detailed plans and specifications for the selected alternatives, determining their practicality and cost implications. It may also involve testing or prototyping to ensure the proposed changes can be successfully integrated into the project.

Presentation Phase

In the presentation phase, the developed ideas and alternatives are presented to the project stakeholders, such as clients, designers, contractors and team members. This is where the final recommendations are made, showcasing the benefits of the proposed changes and justifying the cost savings and value improvements. The goal is to get approval from stakeholders for the proposed value engineering solutions.

Implementation and Follow-Up Phase

Finally, in the implementation and follow-up phase, the approved value engineering recommendations are put into action. This phase includes integrating the changes into the project’s design or construction process. It’s critical to monitor the progress and effectiveness of the implemented changes. The project team should track outcomes, compare actual savings with projected savings and ensure that the improvements are properly incorporated into the project, ensuring long-term success.

Techniques for Value Engineering in Construction

Value engineering in construction relies on structured techniques to optimize costs while maintaining or improving a project’s functionality and quality. These techniques help project teams analyze design, materials and processes to find the most efficient solutions. Below are some of the most effective techniques used in value engineering for construction projects.

1. Target Value Design (TVD)

Target value design is a cost-driven approach that aligns project design with a predetermined budget. Instead of designing first and then estimating costs, TVD ensures that designs are developed with cost constraints in mind from the beginning. This method encourages collaboration among architects, engineers and contractors to create cost-effective solutions while maintaining project objectives.

2. Life Cycle Costing (LCC)

Life cycle costing evaluates the total cost of ownership of a building or infrastructure over its entire lifespan, rather than just considering initial construction costs. This technique factors in maintenance, operation, energy consumption and disposal costs to ensure that design choices lead to long-term savings. By prioritizing durable and efficient materials or systems, LCC helps maximize project value over time.

3. Function Analysis System Technique (FAST)

The function analysis system technique is a structured method used to break down a project or system into its core functions. It helps teams analyze how different components contribute to the overall project goal and identify areas where costs can be reduced without sacrificing essential functions. By organizing functions in a logical diagram, FAST facilitates better decision-making in value engineering.

4. Integrated Project Delivery (IPD)

Integrated project delivery is a collaborative approach that brings together all key project stakeholders—including owners, designers, engineers and contractors—early in the process to optimize design, cost and execution. By promoting teamwork and shared responsibility, IPD helps minimize waste, reduce costs and ensure that value engineering decisions are implemented effectively.

5. Design-to-Cost (DTC)

Design-to-cost is a method where cost targets guide the design process. Instead of allowing costs to escalate as designs become more complex, DTC ensures that financial constraints are considered from the start. This technique prioritizes value-driven decision-making by selecting materials, construction methods and designs that align with budgetary goals without compromising performance.

Benefits of Implementing Value Engineering in Construction

Value engineering in construction provides a structured approach to optimizing project costs and improving efficiency while maintaining or enhancing quality. By focusing on functionality and cost-effectiveness, value engineering helps stakeholders align project goals with financial constraints, leading to better project outcomes. Below are some key benefits of implementing value engineering in construction projects.

Helps Establish Realistic Stakeholder Expectations

One of the significant benefits of value engineering is that it aligns stakeholder expectations with project feasibility. By analyzing costs, functions and design alternatives early in the project, it ensures that all parties—owners, designers and contractors—have a clear understanding of what can be achieved within budgetary and time constraints. This transparency reduces misunderstandings and helps stakeholders make informed decisions about project scope and priorities.

Maximizes the Profit Margin for Contractors

Value engineering in construction helps contractors improve profitability by identifying cost-saving opportunities without sacrificing project quality. By selecting more efficient materials, alternative construction methods or streamlined processes, contractors can reduce unnecessary expenses and increase efficiency. Additionally, it can lead to reduced waste, shorter project timelines and better resource allocation, all of which contribute to higher profit margins.

Helps Define Clear Project Requirements and Construction Specifications

Through a structured function analysis, value engineering in construction ensures that project requirements and specifications are well-defined before construction begins. This clarity helps prevent design changes, delays and cost overruns later in the project. By focusing on the essential functions of each project component, it helps establish precise specifications that meet both performance and budgetary goals, leading to smoother project execution.

How ProjectManager Helps Manage Construction Projects

There are many ways in which ProjectManager can help with value engineering in construction. However, that’s only the beginning of how our award-winning project and portfolio management software can manage construction projects. We’ve already shown how our Gantt charts work, but they also adjust schedules and workflows for efficiency, optimizing the project timeline through better sequencing of tasks to reduce time and cost. We also have collaborative features, such as document sharing and commenting at the task level, which improve communication and teamwork are essential to identifying cost-effective solutions. But there’s more.

Allocate and Optimize Resources

Keeping costs down requires strict resource management. That begins with scheduling resources and costs on the Gantt chart to allocate labor, equipment and materials efficiently, but continues when onboarding teams. At that point, general contractors can set the team’s availability, including PTO, vacation and global holidays, which makes it easier to assign the right person to the right task at the right time.

Construction managers can analyze resource allocation by visiting the color-coded workload page and seeing who is overallocated or underutilized. They can then balance the team’s workload without leaving the chart. The team page gives a weekly or daily view of the team’s activities. It can be filtered by progress or priority and tasks updated right from that page to reduce waste by ensuring resources are optimally used.

Get Actionable Insights From Real-Time Dashboards and Reports

Managing construction projects and keeping costs aligned with the project budget requires monitoring and control. For a high-level overview, toggle over to the project or portfolio dashboards. There’s no setup required to view easy-to-understand graphs and charts on time, cost, workload and more. For more details on project performance, use customizable reports on project or portfolio status, variance, timesheets, workload and more. These reports can be filtered to evaluate potential changes to improve the project’s value or provide progress reports to keep stakeholders informed. Even our secure timesheets help by tracking labor costs to keep to the budget.

The Triple Constraint in Project Management: Time, Scope & Cost

Jason Westland — Wed, 02 Apr 2025 16:03:42 +0000

The triple constraint of project management has been given many names – the Project Management Triangle, Iron Triangle, and Project Triangle – which should give you an idea of how important the triple constraint is when managing a project. If you’re managing a project, then you’re working with the Triple Constraint.

Therefore, it can be easily argued that the triple constraint might be the single most important concept in the history of project management. When used in combination with effective project management software, it can give you the ability to drive your projects to success.

What Is the Triple Constraint in Project Management?

So, what is the triple constraint? That’s easy, it’s a model of the constraints inherent in managing a project. Those constraints are threefold:

Cost: The financial constraints of a project, also known as the project budget
Scope: The tasks required to fulfill the project’s goals
Time: The schedule for the project to reach completion

Basically, the triple constraint states that the success of the project is impacted by its costs, time, and scope. As a project manager, you can keep control of the triple constraint by balancing these three constraints through trade-offs. We’ll explain how these trade-offs work in the section below.

Another important thing to consider about the triple constraint of project management is that it doesn’t only apply to projects, but also programs and even project portfolios.

For this reason, project managers usually need the support from a project management office (PMO) to ensure their project’s cost, timeline and scope aren’t in conflict with other projects and programs within their organization’s project portfolio.

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Project Budget Template

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While it’s true that the triple constraint is an important part of any successful project plan, it doesn’t determine success. Projects are made from many parts, more than the three that make up the triple constraint. That’s why some project management experts have added three more constraints to the model, to better reflect the most critical areas of a project. Here they are:

Quality: There are quality standards for every project, whether its final deliverable is a tangible or intangible product. Project managers need a quality management plan to control quality.
Risk: Risk is inherent to any project. That’s why project managers need to create a risk management plan to explain how project risks will be handled
Benefit: There are different types of benefit obtained from a project. Project managers must ensure that project stakeholders get the best financial benefit possible.

How Does the Triple Constraint Work?

As stated above, project managers can increase or reduce the cost, time and scope of a project with trade-offs to keep it on schedule and under budget. Let’s see how these project triangle trade-offs work with some examples.

Time and Scope: You can reduce your project scope to also reduce your project duration if you’re running behind schedule. In the opposite case, you can increase the length of your project timeline in case the project stakeholders come up with extra project activities.
Cost and Scope: By reducing the project scope, you’ll need to execute fewer tasks, which means lower costs. In the opposite case, a larger project scope means higher costs.
Cost and Time: In some projects, time and cost can be directly related. For example, the costs of renting equipment or labor are directly proportional to the time you need them for.

All these scenarios apply the triple constraint for managing the project, but there are many more possible trade-offs that can occur in a project, which also involve quality, risk and benefit. Project managers don’t usually make these decisions alone, but rather rely on their project management office (PMO) team.

By using a project management dashboard, a manager can keep sight of the project as it progresses. Metrics such as the schedule, cost and scope of the project are easy to track. With this information, a project manager can identify issues and adjust the triple constraint to prevent those issues from developing into problems.

Triple Constraint Diagram: The Iron Triangle

The triple constraint diagram below illustrates the three interconnected constraints of scope, time and cost. The scope constraint represents the project’s deliverables, features and functionality. The time constraint represents the project’s schedule and deadlines, and the cost represents the project’s budget and resources.

A change in one constraint impacts the project quality. Think of the space inside the triangle as the project’s quality. If the triangle changes shape, the quality of the project changes.

How to Manage the Triple Constraint

The triple constraint appears simple, but that’s only on the surface. Each of the three points of this triangle can be unpacked to reveal deeper meaning.

Cost

The financial commitment of the project is dependent on several variables. There are the resources involved, from materials to people, which all include costs.

There are also the fixed and variable costs inherent in any project, such as equipment or labor, which must be calculated. This can seriously come into play with the use of contract workers or outsourcing.

This is what project managers do to control costs:

Estimate the costs for all the tasks in the project scope
Create a project budget based on the estimated costs of the project
Use the project budget as a cost baseline, which is employed to control costs during project execution
Control all project costs to keep spending under the project budget
Adjust the project budget when necessary

Scope

As mentioned, the project scope refers to all the project work required to complete the project. Managing that work is critical for project success. When managing scope it’s critical that you prioritize your tasks, enabling you to plan and assign resources effectively.

To manage scope, project managers:

Use a scope management plan to clearly define what project activities will be done
Share the scope management plan with all stakeholders, so everybody is on the same page
Use change orders to avoid scope creep and keep track of all changes made to the project scope
Manage stakeholder’s expectations to maintain the project scope
Use task management tools and techniques to keep track of all project activities in the scope

These scope management actions taken by project managers are all essential because the amount of time each task will require is critical to the cost and quality of the final product. This can have a great impact on schedule and cost, especially so if the project is on a large scale.

Time

At its basic, the project schedule is the estimated timeline allotted to complete the project, or produce the final deliverable. Usually, this is figured out by first estimating the time that each project task will take.

A Work Breakdown Structure (WBS) is used to identify all the project activities. Then project managers can use different scheduling techniques such as the critical path method or PERT charts to determine the total duration of the project.

Here’s what project managers do to manage time:

Use a Gantt chart to visualize the project schedule, define task sequences and monitor the duration of each task
Create policies, procedures and documentation for planning, executing and monitoring the project schedule
Allocate resources effectively using a resource schedule to avoid bottlenecks
Compare the schedule baseline to actual progress to determine if projects are on track

Examples of the Triple Constraint in Practice

Let’s explore some examples of the triple constraint to better understand how it plays out in a real-world context.

Construction project triple constraint example: Let’s say there’s a small retail store being built, approximately 2,000 square feet. The timeline is 6 months with a budget of $300,000. If there’s a last-minute request from the client to add 500 square feet, this increases the scope. In return, either the timeline must be delayed or the budget increased to meet the ideal project success criteria.
IT project triple constraint example: If a sales team needs a new customer relationship management (CRM) built, they may have a 9-month timeframe and $250,000 budget. In terms of scope, the CRM needs to include lead management, sales reporting and contact tracking. If the sales team requests that the system be ready in 6 months, either the scope has to be reduced or the budget must increase.
Manufacturing triple constraint example: Let’s say a manufacturing company is producing 5,000 units of a new smart home device. It needs to include app integration and voice control, the manufacturing cost per unit cannot exceed $50, and all units must be produced within 3 months. If there’s a sudden cost change in the budget, and each unit cannot exceed $40 in production, production either needs to slow down, which extends the budget, or the scope will be reduced.

Now that we’ve learned what most project managers do to control the triple constraint, let’s learn about the project management tools that you can use to help you with this process.

Templates to Help You Manage the Triple Constraint

To better manage the triple constraint throughout projects, consider using one of our countless project management templates for Excel and Word available on our site. We’ve outlined three that can help manage the triple constraint.

Project Budget Template

The project budget is one of the most important factors to consider throughout the project. Download this free project budget template for Excel to calculate a realistic cost baseline and simplify the budgeting process.

Workload Analysis Template

Keep an eye on the team’s workload to ensure they aren’t using more resources than they should, which would impact the project’s triple constraint. Use this free workload analysis template for Excel to evenly distribute tasks across teams, helping them work more productively.

Dashboard Template

Download this free project dashboard template for Excel to track task status, budget and the project’s overall progress. At a glance, it’s easy to track the project’s key performance indicators, allowing project managers to make strategic decisions to drive the project forward.

Controlling the Triple Constraint with ProjectManager

As mentioned at the top of the post, the triple constraint when used in conjunction with a project management software is the best way to control your project and lead it towards a successful end. ProjectManager is a cloud-based project management software with real-time data that gives project managers the power to manage each arm of the triple constraint: costs, time and scope.

Costs

ProjectManager helps you track your project costs to make sure you’re not overspending. You can create budgets, add project expenses and input hourly rates for all of your resources. The real-time dashboard tracks cost and five other metrics across your project and reports on them instantly in easy-to-read charts and graphs. This is an easy way to keep an eye on your costs and make sure you’re aligned with your budget. Now you can catch budget issues before they become a problem.

Time

Your schedule can get away from you, but not with ProjectManager. When tasks are updated, they’re instantly reflected across the software. That means, your reports and dashboard are accurate and current. You can even watch the progress of individual tasks on the online Gantt chart, where the duration bar indicates how much progress has been made on the task.

Project timesheets are synced with the team’s tasks, which makes it easy for team members to select their task and just enter it. This brings their time into the timesheet, which can then be previewed and approved with a few clicks.

Scope

Scope is going to change throughout the project, and ProjectManager has the tools to stay flexible with those changes. There are multiple project views, so you can switch from the Gantt to the kanban view to get visibility into your workflow. Kanban cards, which represent tasks, are set by priority, which can change as the relevance of those tasks change.

The great thing about kanban boards is that they’re set up to deliver tasks to team members only when the resources and capacity are there to complete them. As the scope of the project changes, the kanban board can quickly adjust.

If you notice teams are under- or overallocated, you can balance that out on the workload page. The workload page has color-coded charts that show at-a-glance who is overloaded with tasks and who is available. You can reallocate their work quickly and easily to keep the project within scope.

Project Scope Statement: How to Write One With Examples

Peter Landau — Wed, 02 Apr 2025 15:35:07 +0000

The scope of a project is the sum of all the work that needs to be executed. A project scope statement helps project managers define the boundaries of what will and what won’t be done. But scope statements aren’t just about work management.

To write a project scope statement, you’ll need to understand the project goals, work breakdown structure and requirements, among other things. Then, once you’ve defined your project scope, you can create a scope document.

What Is a Project Scope Statement?

A scope statement is a document that defines all the elements of the project scope as well as assumptions, project requirements and acceptance criteria. Your project scope statement will act as the primary tool for stakeholders and teammates to reference and use as a guideline to accurately measure project success.

A project scope statement is part of the scope management plan, a larger document that contains all the strategies, rules and procedures to manage your project scope. In the same way, the scope management plan is an important component of your project plan.

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Project Scope Template

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What Does a Project Scope Statement Include?

This detailed project document defines the boundaries of a project, outlining inclusions and exclusions. Typically, the project scope statement starts with a project description with a brief overview of its purpose and objectives. There’s also a list of tangible and intangible product deliverables as well as defined project objectives.

Project acceptance criteria should also be included to determine whether the project deliverables are acceptable, while project exclusions outline what isn’t included in the project. This document outlines project constraints that may impact the project’s execution and a list of assumptions made during the planning process. Also included in the project scope statement is a detailed scope description, project boundaries, initial project risks and stakeholder acceptance criteria.

Project Scope Statement Sample

To better understand what the project scope statement is, we thought it’d be helpful to visualize it using our free project scope template for Word as a project scope statement example. As you can see, it has the basic project scoping information on top and then goes into a general justification for the project’s need and how it’ll fulfill that.

Then we get into the main part of the project scope statement, such as what will be in scope and out of scope for the project. This creates boundaries for the project and makes clear what is essential and must be prioritized.

Now we get into explanations of the business objectives, such as targets that the project needs to hit in order to be successful, and the deliverables that’ll be produced over the life cycle of the project.

From there, you’ll describe project exclusions, issues of time, cost, scope, risk, resources and so on that could constrain it and whatever is assumed to be done in the project.

Finally, you’ll go into costs. The project scope statement is going to estimate the costs and list them all, including the estimated cost, the actual cost and the cost on completion of the project. Then you can show the variance, which is the difference between the estimated cost and the actual cost.

How to Write a Project Scope Statement

Now that we know what a project scope statement is, let’s learn how to write this important project management document. Similar to the five Ws of journalism—who, what, when, where, why—to properly outline your project scope statement, you must address these seven things:

1. Project Goals & Objectives

Project goals and objectives are what define the purpose of a project. Project objectives are the smaller steps that lead to the project goals, which are broader. Start your project scope document by explaining them. These goals and objectives should be documented in a project charter, too.

2. Project Requirements

Project managers and stakeholders must reach an agreement about the project scope and other project requirements such as the expected quality, risk, benefits and cost, among others.

3. Project Scope Description

It might sound easy enough, but this is the most important step. Here is where you’ll define your project scope, which is all the work that needs to be done to complete the project. Here are some simple steps to help you define the project scope.

Use a work breakdown structure to visualize all your project tasks, deliverables, and milestones.
List what’s within the scope of your project, and what’s out of scope. Everything that’s not included in the project scope is known as project exclusions.
Identify project constraints, which are all the limitations such as time or cost.
Create a scope baseline to compare your actual progress to the planned project scope.

Project exclusions and constraints are essential because they help establish boundaries for the project to exist. They also manage your stakeholders’ expectations/input and give your team members some creative limitations to work within.

4. Project Exclusions

While it’s imperative that you define the boundaries around what the project includes from the outset, it’s also extremely important that you list what this project doesn’t include. For example:

Application updates that are planned for a later project and are intentionally not included in this project
Restricted or rescheduled customer access to certain support lines/product features

5. Project Constraints

Project constraints are what make managing projects such a puzzle to solve. The top three constraints to managing any project are typically time, money and scope, known as the triple constraint of project management. They’re interconnected, meaning that if you pull one lever on ‘scope,’ another lever on ‘money’ or ‘time’ will also move.

But there are additional project constraints that can crop up at any time, including risk, resources, organization, method, customers and more. List all the constraints you foresee in your project, so you can try to have solutions in place ready to launch when needed.

6. Project Assumptions

Your project assumptions typically revolve around the very things that end up being constraints, including time, money and scope. For example, it’s in this section of your project scope document, “the front-end development team will be available during this project time period,” or, “the customer support team will receive new product training by x time.” It’s important to list these out as this won’t only tell key stakeholders what your primary resource needs are to make the project go, but it also gives you fast insight as to where your biggest risk factors lie.

7. Project Deliverables

List out the deliverables your team members need to produce in order to meet business objectives. This can include the product itself, instruction and installation manuals, marketing materials, press releases, advertising campaigns and more.

Your project scope statement outline helps act as a marker as you build out your full scope statement. Because while predicting the future of the project is impossible at such a high level, this is the first step to getting your project as close to the outcome as possible. By starting with the seven key statements above, you can get a head start on a successful project.

Gantt charts are the workhorses of scope management. However, most Gantt chart software is woefully limited in terms of its functionality. ProjectManager has dynamic online Gantt charts that do the regular organizing, prioritizing and linking dependencies and adding milestones. But unlike other tools, you can filter for the critical path. When you set the baseline, you’re able to compare your actual progress to what you had planned. There’s no better way to monitor project scope.

Keep to your project’s scope with robust Gantt charts from ProjectManager. Learn more!

Project Scope Statement Examples

Now let’s review two simple project scope statement examples to better understand how a scope statement can be used in different industries.

Construction Project Scope Statement Example

Defining the scope of a project is one of the most important steps in the project planning process. In construction, defining the scope helps construction project owners, contractors and subcontractors not only reach an agreement on what the construction project will look like but also create an accurate project cost estimate based on the work, materials, equipment and labor that’ll be required.

Project Goals & Objectives: Build a residential construction project, an apartment complex that will generate revenue for the construction firm.
Project Requirements: Architects, engineers and construction project managers will work on the construction design to determine the specifications and requirements for the project. These include quality standards for construction materials and safety requirements, among others. To have a clear understanding of what these project requirements will look like, they’ll need to create a set of construction drawings and construction documents such as blueprints, a bill of quantities and computer-assisted designs.
Project Scope Description: Once there’s a design for the building, the project scope can be defined by using a work breakdown structure that’ll allow the construction management team to zoom into the types of tasks that will need to be executed, such as masonry, plumbing, electrical and other types of construction activities.
Project Exclusions: One of the most important things when writing a scope statement is to state what activities won’t be executed, known as project exclusions. Clearly explaining this helps avoid misunderstandings down the road.
Project Constraints: In project management, there are three traditional project constraints; time, scope and cost. However, there are even more project constraints that can affect a construction project, such as resources, quality and risk. For any construction project, there will be constraints that need to be factored in during the project planning phase such as environmental concerns, local regulations and building codes.
Project Assumptions: In any project, there are assumptions that subject matter experts will draw before the construction phase begins. These are usually things beyond the control of the construction management team, such as weather conditions, availability of suppliers and the ability of the team to complete work within the planned time frame. These assumptions will be proven true or false once the work begins.
Project Deliverables: As previously stated, the construction project involves different types of work such as HVAC, electrical work, woodwork and masonry, among others. Each of these construction crews or subcontractors will be responsible for producing many project deliverables throughout the construction phase.

Manufacturing Project Scope Statement Example

Manufacturing projects generally involve the production of physical products. This takes a series of steps needed to transform raw materials into finished goods. Here’s a simple scope statement example for manufacturing.

Project Goals & Objectives: Create a finished product based on market research and the strategic planning of the company.
Project Requirements: There will be internal and external requirements for the development and manufacturing of your product. In terms of internal requirements, think about the concerns of your company stakeholders who will want low production costs, high profit margins and the shortest time possible to get a return on their investment. In terms of external requirements, consider the competition in your market and the preferences of your target customers such as the quality, price and features they expect from your product.
Project Scope Description: The project scope in this case will summarize the different activities that are part of the production cycle. This includes the product development process, the procurement and transportation of raw materials, parts and components from suppliers to the production line, the assembling process, quality control procedures and the distribution channels that’ll be utilized to bring the product to the market.
Project Exclusions: It’s important to explain to your stakeholders exactly what features will be included in your product as well as the quality standards that will be followed. Product documentation such as a bill of materials is ideal to define your project exclusions.
Project Constraints: There will be project constraints specific to manufacturing such as limited production capacity, resource availability, customer demand and machinery maintenance.
Project Assumptions: Brainstorm with different departments involved with the product, such as marketing, sales, production and maintenance to draft as many project assumptions as you can get. The more cross-functional insights you can get, the better. It’s important to be ready to face multiple scenarios. A good way to do so is to use linear programming models to simulate different levels of production and customer demand.
Project Deliverables: The deliverables will be all the different product development documents that’ll guide the production process, the product prototype and finally the final version of the product that’ll be launched to the market.

Project Scope Statement vs. Scope of Work

There are a few things that project scope statements typically get confused with, including your scope of work. They may sound like similar project scoping documents, but here are the primary differences between these two.

Your scope of work is an agreement of work, typically between consultant and client, that details the work plan to be performed, including, but not limited to:

Deliverables/products/results
Project timeline
Project milestones
Reports to catalog project progress

While your scope of work can be time-consuming to write, it outlines the project itself and not necessarily the plan that’s to follow. The project scope statement, in turn, fulfills that role by detailing and mapping out exactly what to expect with the project plan and the project itself.

Scope Statement vs. Scope Management Plan

They might sound similar, and the outcome of the project may be similar, but a project scope statement is different from your project scope management plan. A project scope management plan is what follows the project scope statement, detailing the scope management process from the start to the finish of your project life cycle.

Additionally, it helps define the work that must be done over the course of the project, and it controls and monitors those processes. It also documents and tracks phases to avoid scope creep and assists with project closing, including an audit of deliverables and assessing the project outcome for success factors.

Your scope statement isn’t nearly as involved—it’s just the umbrella over your project scope management plan, acting as a rubric for stakeholders and team members to follow.

How Does a Project Scope Statement Help a Project Team?

This crucial document significantly benefits a project team in many ways. It acts as a guide that provides clarity and understanding, outlining what is included and excluded from the project. It clarifies project deliverables and connects the project to the overall business needs.

A project scope statement also breaks the project into manageable tasks, making it easier to determine what resources are needed for each. All stakeholders, including the client, sponsor and team, have a shared understanding of the project scope, which minimizes disagreements. Ultimately, this document can contribute to a more successful project outcome.

Tips to Write a Project Scope Statement

Here are the best practices to consider as you write your project scope statement:

Avoid using jargon-heavy language. You’ll be talking to multiple people across multiple departments and specializations, so keep the language consistent and clear.
Involve all relevant stakeholders such as the client, sponsor, team members and end users. Their input and feedback ensure everyone agrees on the boundaries and objectives.
Keep it short. Since this is a project document that’s seeking stakeholder buy-in, there will likely be plenty of editing to be done before it’s finalized, and it’ll need to be a quick reference guide for later. So, keep it simple and save the verbiage for your full project plan.
Stay away from sweeping statements. You don’t want to over-commit your resources to the project before it even kicks off.
Explicitly state what is out of scope to better manage expectations and prevent the project from expanding beyond its intended boundaries.
Focus on deliverables instead of tasks, as the end products or services help the project team determine the best approach to complete the work.
Make sure it answers questions, like:
- What are the long-term business benefits?
- What does it provide our customers that do not already exist?
- Is this better than what we currently offer on the market?

ProjectManager & Project Scope Management

Major project rollouts can be demanding on both your time and energy. Don’t let it overwhelm you before kick-off. For starters, you can use our Gantt chart software to create a WBS and get a visual on deliverables, as well as the tasks needed to complete before submitting your project scope statement.

From there, you can try ProjectManager and use our task management features to get all the necessary tasks organized, prioritized and sorted by project phase. You can even ask other people for input: team members can comment directly on the tasks so communication stays organized and to the point.

Keep tabs on your resources, tasks, deliverables and more so you can keep your project on track. With ProjectManager, you can practice mapping out your project timeline by using our Gantt chart, listing out deliverables using our task list or kanban tool and inviting team members to review the timeline before submitting the scope statement to key stakeholders. Start your free 30-day trial today.

The post Project Scope Statement: How to Write One With Examples appeared first on ProjectManager.

Quantity Takeoff in Construction: Process, Benefits and More

Brenna Schwartz — Tue, 25 Mar 2025 19:00:18 +0000

Construction projects manage many different types of resources. General contractors have to accurately estimate the amount of those items to keep their profit margin. They do this through the process of a quantity takeoff.

What is quantity takeoff and when should this process happen in the construction project management cycle? We’ll address those questions, note who should be involved in the process, how to do it and why it’s so important.

What Is Quantity Takeoff in Construction?

Quantity takeoff (QTO) in construction refers to measuring and listing the quantities of materials, labor and resources required for a construction project. This detailed assessment estimates the cost, time and materials needed to complete the work. It involves identifying, counting and measuring all project items, such as concrete, steel, pipes, wiring and more.

The primary goals of a quantity takeoff are to accurately estimate costs by determining how much of each item is required, planning procurement to ensure that enough materials are ordered in the right quantities at the right time, scheduling projects by understanding the scale of materials and labor required and helping contractors with the bidding process to prepare competitive bids for construction projects.

Quantity takeoff documents can be in the form of spreadsheets or digital files and often involve using construction management software or tools to help automate the process, especially for larger projects. That’s why general contractors prefer ProjectManager, award-winning construction project and portfolio management software that has multiple planning tools.

General contractors can use our robust Gantt charts for accurate cost estimation and project scheduling by listing all the project tasks, the human and nonhuman resources needed for that work and the associated costs. This helps in the bidding process and, if the bid is accepted, can be used as the project schedule.

Our Gantt charts do more than schedule work and resources. They link all four types of task dependencies to avoid delays and cost overruns that can eat into one’s profit margin. Finding the critical path and identifying the essential tasks in the project is as simple as filtering the Gantt chart. Then set a baseline to track the planned effort against the actual effort in real time to stay on schedule.

ProjectManager’s Gantt charts help with quantity takeoff. Learn more

When to Do a Quantity Takeoff

A quantity takeoff is typically performed at various stages of a construction project. Here are the key times when it is necessary.

During the pre-construction phase or bid stage to prepare for bigging and estimating
After receiving design documents, which is the pre-construction planning, to estimate material quantities based on the design
During the project execution and construction phase, to track the project’s progress and manage resources
When changes occur through change orders or revisions to account for any design or scope changes
At the completion or post-construction phase for final reporting, invoicing or cost reconciliation

Who Should Be Involved in the Quantity Takeoff Process?

There are multiple stakeholders involved in a quantity takeoff. They come from different disciplines to ensure accuracy and completeness. Here’s a list of those key players.

Estimators are usually the primary individuals responsible for performing the quantity takeoff. They measure quantities from drawings and documents to estimate materials, labor and equipment needs.
Project managers oversee the project and ensure the takeoff aligns with the project’s scope, budget and timeline.
Architects and structural, mechanical, electrical and civil engineers provide the design documents and technical drawings used for the takeoff.
Procurement professionals ensure the materials identified during the quantity takeoff are available and sourced on time.
The construction manager ensures the quantities measured match the actual needs of the construction site.
If specific tradies are involved, such as electrical plumbing and HVAC, subcontractors review the takeoff for their respective scope of work.
In some projects, specialized professionals like quantity surveyors or cost engineers are involved in cross-checking the takeoff and the estimated costs.

Benefits of the Quantity Takeoff Process

The quantity takeoff process offers numerous advantages in construction projects, helping to deliver more accurate cost estimates, efficient resource management and smooth project execution. Providing precise data on materials, labor and time requirements allows for better planning, budgeting and decision-making throughout the project life cycle.

Realistic Construction Cost Estimates

A detailed quantity takeoff enables the creation of more accurate cost estimates. By identifying the exact amounts of materials, labor and equipment needed, contractors can avoid underestimating costs or running into unexpected expenses, which helps ensure the project stays within budget.

Helps Prepare Competitive Construction Bids

By accurately estimating what materials will be needed and their costs, construction firms, contractors and subcontractors can prepare competitive bids that are still profitable. If they fail to do a good quantity takeoff, they might find their costs are higher after being awarded the bid and their profit margin could shrink.

Facilitates Resource Planning and Resource Scheduling

A QTO provides clear visibility into the materials, labor and equipment needed for each stage of construction. This helps project managers plan resources efficiently, ensuring materials are ordered on time and labor is allocated appropriately. It also aids in scheduling, minimizing delays due to resource shortages or mismanagement.

Quantity Takeoff vs. Material Takeoff

While both quantity takeoff and material takeoff involve measuring quantities for a construction project, they differ in scope and purpose. As we’ve been discussing, a quantity takeoff is comprehensive, including all quantities required for the project, and is used for cost estimation, bidding, resource planning and scheduling projects.

Material takeoff is a narrower process that focuses specifically on measuring and listing the quantities of materials required for construction. It’s primarily used for procurement, ensuring that the correct materials are ordered and available for the project. This includes only the materials like concrete, steel, drywall, pipes, etc., which are required for the project. It doesn’t account for labor or equipment.

How to Do a Quantity Takeoff in Construction

Now that we understand more clearly what a quantity takeoff is, who does it and why it’s done, let’s look at the steps that make up the process of creating one. They are as follows.

1. Review Construction Documents and Drawings

Begin by thoroughly reviewing all construction documents, including blueprints, architectural plans, structural drawings and specifications. These documents provide the details necessary to identify the scope and type of materials needed for the project.

2. Review the Scope of Work

Ensure you understand the project’s scope by reviewing the contract and scope of work. This will clarify what is included in the project and any exclusions. It helps ensure the takeoff covers everything required and prevents overlooking materials or work areas.

3. Calculate the Quantities of Materials

Based on the documents and scope, calculate the quantities of each material needed for the project. This can include measuring lengths, areas and volumes or counting specific items like doors, windows or fixtures. It may involve manual calculations or using takeoff software.

4. Estimate the Costs of Materials

Once the quantities are determined, the next step is to estimate the costs of each material based on market rates or supplier quotes. This helps generate a realistic cost estimate for the project, which can be included in bids and project budgets.

5. Compare the Quantity Takeoff Against the Bill of Quantities to Ensure Accuracy

Cross-check the quantity takeoff with the bill of quantities (BoQ), which is a document that lists the estimated quantities and costs of materials. This step helps ensure that the takeoff is accurate and that no items are missing or miscalculated.

6. Write a Quantity Takeoff Report

Finally, compile the results into a comprehensive quantity takeoff report. This should detail the quantities, materials and costs, making it easy for project managers, estimators and contractors to understand the scope of work and manage resources effectively.

Free Construction Project Management Templates

Use these free construction project management templates to help with the quantity takeoff process. However, we also have over 100 free project management templates for Excel and Word that cover all aspects of managing projects, across multiple industries.

Construction Quote Template

Use this free construction quote template for Excel to break down costs for projects and come up with accurate estimates on costs, but also terms and conditions that apply to the work or materials being quoted.

Construction Estimate Template

This free construction estimate template for Excel helps to estimate all labor, material and direct and indirect costs for construction projects. It’s a versatile template that can be used in the bidding process, client budgeting, budget tracking, value engineering, change order management and feasibility studies.

Construction Budget Template

The budget is another way to do a quantity takeoff as it estimates all related costs. This free construction budget template for Excel follows a work breakdown structure to list all project tasks and the labor, materials and other costs.

How ProjectManager Helps Manage Construction Projects

Templates are helpful, but only to a point. That’s because using a static document to try and manage dynamic construction projects will get frustrating fast. Unlike construction project management software, templates have to be manually updated and are poor collaborative platforms. General managers want to have real-time access to crews on the job site. That’s why they choose ProjectManager, award-winning project and portfolio management software for construction with multiple project views, such as Gantt charts, kanban boards, task and calendar views, that update simultaneously as teams update their status online or mobile apps for Android and iOS.

Robust Resource Management Features

When the quantity takeoff is done and the teams are being onboarded, general managers and their subcontractors can set the availability of their teams, including PTO, vacation and global holidays, as well as skill sets. This makes it easier to assign them tasks. Then, visit the color-coded workload page for an overview of resource allocation.

See who is overallocated or underutilized and balance the team’s workload to keep them working at capacity without risking burnout. There’s even a team page that provides a daily or weekly summary of the team’s activities, which can be filtered by progress, priority and more.

See Real-Time Data With a Construction Project Management Dashboard

Quantity takeoffs have to be updated as change orders come in. To stay on top of what’s happening on a high level of the project, toggle to the real-time project or portfolio dashboards. They collect live data and display it in easy-to-read graphs and charts that show metrics, such as time, costs, workload and more.

Customizable reports dig deeper into the data and can be filtered to focus on what one wants or provide an overview of progress to share with stakeholders. Secure timesheets not only streamline payroll, but track labor costs to help keep the project on budget and keep your profit margin.