Catching a problem in week three, when there is still time to fix it, is most of what good project management looks like. That is why adverts ask for budget tracking, monitoring progress and keeping records. The tool is usually a spreadsheet, and the skill is comparing planned with actual.
Tracking progress
Add three columns to the tasks tab of your project spreadsheet:
- Planned end date: from your schedule.
- Actual end date: filled in when the task finishes.
- Status: not started, on track, late or done.
For outputs, keep a separate table with the indicator, the target, the actual figure so far, and the percentage achieved. For example: "Committee members trained, target 10, actual 8, 80 percent." The percentage formula is simply actual divided by target.
Tracking spending
On the budget tab, add columns next to each approved line:
- Budget: the approved amount.
- Spent to date: the total of receipts and payments on that line so far.
- Remaining: budget minus spent, using a formula such as =B2-C2.
- Percent spent: spent divided by budget.