IT Project Budget Template

IT PROJECT BUDGET TEMPLATE

The information technology department of many companies will often take on projects in order to meet certain organizational goals. When deciding to take on an information technology project, it is important for companies to set up a budget so that they will know how much a given project will cost. One of the best ways to oversee the costs of an information technology project is to develop an IT project budget template. This will enable organizations to clearly state all of the expenses and costs associated with the project as well as the potential revenue. Companies can use an IT project budget template spreadsheet so that they can put together the precise expense categories for their project.

HOW TO USE

When your company decides to use an IT project budget template, it will be important to know how to use it to your advantage. One of the best ways to use the template to your advantage is by using the right software. Your company will want to use software programs such as Microsoft excel. An IT project budget template excel will allow you to record revenues and expenses for a given month. What you will need to do to put together the IT project budget template spreadsheet is to list the revenues for each month and then certain expenses such as technology, equipment and salaries. You will then just need to type in the numbers and calculate the total for each category. Once this is completed, you will have a comprehensive template for you IT project.

FEATURES

There are a number of features that your company will benefit from when using an IT project budget template excel. These features include macros, v lookups, pivot tables, columns, rows and icons. All of these features will allow your company to put together a very clear and detailed budget template for an information technology project.

One of the main features that you can take advantage of is a macro. This is a feature that will allow you to watch all of the calculations and category placements in sequential order. In other words, you will watch exactly what you did and enable yourself to make sure that the template was put together properly.

Another feature that will benefit you when putting together a budget template is v lookups and pivot tables. These features allow you to calculate the average cost of something such as equipment and technology used. It can also allow you to calculate employee salaries and average revenues as well.

Columns and rows allow you to type in months, expense categories and revenues on the spreadsheet. This will help you organize important information as well as get clear reporting on the IT project budget.

Whenever you are using an excel budget template for information technology projects, icons and formulas are also important features to consider. The icons will help you quickly make calculations as well as place certain symbols in the rows and columns such as the dollar sign. A formula allows you to set up calculations that will automatically give you totals once you put in the numerical information on your budget template.

BUSINESS BUDGET

A budget for your information technology project should be part of a business budget. On the business budget you will often list all of the costs and revenues associated with the technology projects that you are planning on completing. This will factor into the overall business budget and help you plan your finances. The IT project budget will also be factored in with a marketing budget, production budget, finance budget and payroll budget. Revenues, expenses and profits are calculated when putting together a business budget as well.

DEPARTMENT BUDGET

As well as there being a business budget template, there is also a department budget. Since an IT project will be associated with the technology operations of a company, you will benefit by devising an information technology department budget. This particular budget template will feature all of the costs and revenues associated with this project. It will include the current project budget, the salaries in the department and the expenditures for the department such as equipment and technology purchased and used.

EMPLOYEE BUDGET

Like all other departments of a company, the employee budget is one of the most important ones to consider. An employee budget allows you to monitor the payroll of a given project as well as for the entire department. With the employee budget, you will have categories such as salaries for programmers, web developers, network administrators and database administrators. You will also have the salaries for the information technology managers as well. An employee budget template will help your company plan some of the most important expenditures for a given IT project.

TECHNOLOGY BUDGET

Another important template that will help with your IT project budget is one for the technology used. This template will include categories such as computers, software, mice and monitors used for the project. Knowing the costs of the technology used will allow you to make sure that you have the means to afford all of the technological resources you need to complete the project.

SOFTWARE BUDGET

Whenever you are starting an IT project, it will also be important to put together a budget for the software used. On the software budget template, you will put down all of the exact software you use for the project and list its costs. This will help your company ensure that it has the financial resources to purchase the needed software to complete the project. It will also enable you to know how much certain software is costing you so that you can better plan the overall budget for an IT project.

OPTIONAL TIPS

Companies that are looking to put together a budget template for an information technology project will benefit by keeping some tips in mind. One tip that your company will want to follow is to use the latest technology, equipment and software to complete a project. This will help you complete the project more efficiently. Another tip to follow is to set deadlines to complete the project. This will include a deadline for when to complete certain parts of the project. Whenever your company is completing an IT project, it will also be a good idea to complete a template that focuses on these things so that you complete the project in a timely manner.

SUMMARY

Information technology departments that are looking to better track their costs for a given project will benefit by using a variety of templates. Each of these templates will help your company plan better for both expected and unexpected costs associated with a given project. By using a variety of templates, your company will be in position to clearly monitor the entire project