Use the project finance page to record financial data for your projects. Financial data is included in the dashboard.



Project financial data


The financial data elements you can record for your projects are:


  • Project budget. In the budget section, enter the cost budget for a project. This is how much has been allocated to spend on the project.


  • Project labor cost. The project labor cost will be automatically calculated based on allocated days and the labor cost of resources assigned. 


Override the calculated project labor cost using the project labour cost section if the forecast cost or actual costs are different to the automatically calculated costs.


Costs with a historic date will be considered actual costs, costs in the current month or in the future will be considered forecast costs.


  • Project non-labor cost. Enter any non-labour costs in the project non-labour section


Costs with a historic date will be considered actual costs, costs in the current month or in the future will be considered forecast costs.


  • Project target benefit. Enter financial benefits you expect the project to produce in the project target benefit section.


  • Project actual benefit. Enter financial benefits you realize in the project actual benefit section.



Project financial data and scenarios


Project financial data is unique to the scenario it is entered into. This allows you to model changes to project budgets, costs and benefits when scenario planning.


For example, Project Acme in scenario 2020 projects could have a budget of $100,000 while in scenario 2020 projects version two it could have a budget of $200,000. 



How to add and update financial data


  • Select finance from the top menu.


  • Select project budget and costs


  • Use the selectors at the top of the page to control which finance view, year, scenario and project you want to work with.


You can filter the range of projects using the portfolio selector.



  • Choose if the financial data is being entered annually, quarterly or monthly.





Add and update budgets, benefits and non-labor costs


  • Ensure you have selected either project budgetproject non-labor costproject target benefit or project actual benefit from the finance view selector.

  • Select the add link.




A new row will be added to the page.


  • Enter a description for the financial data row.



  • Choose a category.



  • Enter the financial data in the data fields.



  • Select done editing.





Review and override labor costs


Labor cost are automatically calculated based on allocated days and the costs of resources assigned. Use the labor cost page to manually enter labour costs if you think the costs are different to the automatically calculated costs.


Costs with a historic date will be considered actual costs, costs in the current month or in the future will be considered forecast costs.


  • Ensure you have selected project labor cost from the finance view selector.




Three labor cost rows are displayed:





Calculated from plan. Kelloo automatically calculates labor costs based on the allocated days and resource costs in the plan.


Manually entered. Enter costs directly to override the automatically generated labor costs. If a cost is entered direct this will override the automatically calculated cost.


Actual labor cost. The labour cost that will be reported to the dashboard.



  • Update the labor costs using the manually entered row if necessary.


  • Select done editing once you have completed your updates.




In the example below, Kelloo has calculated a labor cost of $714.50 for March, however this has been overridden to 0.


The 12K Kelloo has calculated for April has not been changed.


No labor cost was calculated by Kelloo for May, however this has been manually set to 15K.








Annual, quarterly and monthly periods


For annual periods, only one data field will be shown at your financial year start date. Quarterly budgets will show four data fields starting on your financial year start. Monthly periods will show a data field per month.


If you change the period and edit a finance line, the finance data will be re-allocated based on the new period selected and previously entered finance data will be discarded.


For example, if you have an annual budget of $12,000 entered in January, selecting a quarterly budget will cause the budget to be re-allocated $3000 into January, April, July and October. If the budget cannot be re-allocated equally per period, any overage will be added into the first period.