What
Create budgets on projects to track hours, billable amounts, costs, and profitability.
Why
  • Monitor spend and hours throughout a project.
  • Track profit margins and forecast delivery risk.
  • Make informed adjustments before a project runs over budget.
Who
  • Site admins (in the owner company) can create, view, and manage all budget types on all projects.
  • Site admins (in external companies) can create, view, and manage budgets on projects they’re a member of.
  • Project admins can create, view, and manage budgets on projects they’re an admin on.
  • Standard users and client users with the following project permissions:
    • View project budget: allows users view-only access to a project’s Budgets area.
    • Manage project budget: allows users to create and manage the project’s budgets.
    • View project budget profitability: allows users to view the project’s budget profitability.

      Users need all three permissions enabled to create and manage fixed fee budgets.
When
Use budgets when billing clients, tracking delivery cost, or forecasting profitability across ongoing work.

Financial visibility: Users with budget and profitability permissions may be able to infer cost rates from project financial data in certain scenarios. Only grant budget and profitability permissions to users who should have access to sensitive financial information.

Budget permissions

Budget access is controlled by project permissions. The permissions a user needs depend on whether they need to view budgets, manage budgets, or access profitability information.

Permission
Allows users to
View Project Budget
View-only access to a project's Budgets area.
Manage Project Budget
Create and manage the project's budgets.
View Project Budget Profitability
View the project's budget profitability information.
All three permissions
Create and manage fixed fee budgets.

Rates and profitability: Budget costs and profitability calculations use rate and cost information where applicable. Site-wide cost rates remain restricted to site owners and owner company site administrators.


Overview of how project budgets, costs, and profit margins work together in Teamwork. View full transcript


Before you start

  • Choose the budget type that matches how you track the project: hours, total fee, fixed fee, retainer, task list, or expenses.
  • Budget type limits count toward the total active budgets allowed per project.
  • Review budget and profitability permissions before granting access to financial project data.

Budgets area

Each project’s budgets are managed from the project’s Finance area.
  1. Click Jump to in Teamwork.com’s main navigation menu.
  2. Search for and select a project.
  3. Switch to the project’s Finance section.
  4. Select the Budgets tab.

Budget usage

Monitor the project’s active budget usage throughout your Teamwork.com site:
  • Project header: Gauge indicating the budget’s current usage. Hover to view details.
  • Finance → Budgets: Budget overview panel displays a usage graph.
  • Projects list view: Budget columns display each project’s active budget details.

Project budget history

  1. Switch to the project’s Dashboard section.
  2. Select the Summary tab.
  3. Scroll to the Project Budget panel.

The project’s budget history is displayed on the panel’s right-hand side.
  • Click a budget entry to open a quick view panel with the budget’s usage graph.
  • Click View past budgets to explore older budgets.

Learn more