Here are simple examples of project budgets- the first one shows the budget for each major task. The second shows the time phased budget for the same project.
Our next learning assignment is to construct a time phased budget. The table here (budget-table-original) shows the tasks for a project, the estimated duration, cost for each task, and the predecessor information. We use this to prepare a time-phased budget.
Here are the steps involved in preparing the time-phased budget:
1. Calculate the cost per unit time for each task( see the resultant table here) budget-table with cost per unit time
2. Determine the tasks that are being performed each time period and add up the cost for those tasks and that becomes the budget for that time period. We use a weekly time period here but you can choose whichever time interval is more appropriate.
3. Repeat step two above until the budget for each time period is determined. The result is your time phased budget (see resultant budget table budget-example).