Use hours for fixed-scope work and cost where hourly rates differ. Use a whole-project budget for one-off jobs and a monthly or weekly budget for retainers. Set the warning at around 80% so you have time to react. Pause tracking at 100% only where going over would be a real problem.
Choosing the measure
- Hours: simple, good when everyone bills at similar rates.
- Cost: better when senior and junior rates differ.
Choosing the period
- Whole project: a fixed scope with a start and end.
- Monthly or weekly: retainers that renew.
Alerts and pausing
Warnings let a manager step in. Pausing tracking at 100% prevents silent overrun but stops people recording real work, so use it where the budget is a hard ceiling. Read project budgets.
A budget routine
At project kickoff set the budget; when the warning appears, talk to the team that day; when 100% arrives, decide: finish, re-scope or raise the budget. Record the decision on the project.
Questions people ask
What if work must continue past the budget?
Raise the budget; tracking resumes.
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