Goal: Define and share cost information

Applies to
Microsoft Office Project 2003
Microsoft Office Project Server 2003
Microsoft Project 2000 and 2002

After you enter cost rates, you can save them as your budget (budget: The estimated cost of a project that you establish in Project with your baseline plan.) before you start tracking and managing the plan. Also, you may want to attach important notes about budget decisions, share the budget information with others, or transfer information to other file formats.

 Tip   This article is part of a series of articles that describe a broad set of project management activities. We call these activities "goals" because they are organized around the project management life cycle: Build a plan, track and manage a project, and close a project. The project life cycle is outlined in The Project Map, where you can find a link to an article about each project management goal. Most of the articles include links to supporting information or procedures that you perform in Project or Project Server. These "goal" articles were designed to help you not only use Project but also better understand project management.

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See all goals on the Project Map

People sharing project cost information

number 1  Add notes about cost information      Before you save your cost estimates as your budget with a baseline plan (baseline plan: The original project plans [up to 11 per project] used to track progress on a project. The baseline plan is a snapshot of your schedule at the time that you save the baseline and includes information about tasks, resources, and assignments.), you can attach cost-related information to tasks (task: An activity that has a beginning and an end. Project plans are made up of tasks.), resources (resources: The people, equipment, and material that are used to complete tasks in a project.), or the entire project.

Number 2  Save baseline cost information     When your cost estimates are in line with your goal for costs, you can establish them as your budget with a baseline plan. In this way, you can compare actual costs (actual cost: The cost that has actually been incurred to date for a task, resource, or assignment. For example, if the only resource assigned to a task gets paid $20 per hour and has worked for two hours, the actual cost to date for the task is $40.) with your original plan as the project progresses.

Number 3  Print or publish cost totals     After you establish a budget, you can share your budget (budget: The estimated cost of a project that you establish in Project with your baseline plan.) information with team members or other stakeholders (stakeholders: Individuals and organizations that are actively involved in the project or whose interests may be affected by the project.).

Click all of the following that apply:

Number 4  Export cost information to other programs     If your company uses other programs to keep track of costs, you can transfer budget information from Project to them.