Detailed Overview of the Project Budget in Drum
This document provides a detailed walkthrough of the Project Budget feature within Drum, explaining how to define project structure, allocate costs, and manage budgets effectively.
Accessing the Project Budget
The Project Budget is accessed through the Proposals section of an Opportunity. Navigate to the desired Opportunity, click the "Proposals" tab, select or create a proposal, and then click the "Project Budget" option at the top.
Purpose and Scope of Project Budgets
The primary goal of the Project Budget is to define the structure and financial parameters of a project before it's won. It allows you to price a project at a granular task level, giving you control over cost management and time tracking.
Task Resolution: You determine the level of detail for your tasks. They can be high-level or very specific, depending on your business needs. Consider the level of detail required for accurate time tracking and cost management. For example, an engineering firm might track "Preliminary Design" separately.
Pricing at Task Level: Drum allows you to price each individual task within a project. This granular approach ensures accurate project costing.
Editing the Project Budget
Changing the Project Structure
Initial Structure: When creating a proposal, you can choose a quote template or a project template which will define the initial structure of the project budget.
Modifying Structure: If the initial structure isn't suitable, you can change it. Click "Change Structure" and select a different quote or project template.
Caution: Changing the structure will delete all existing budget data. If you've already entered data, consider removing individual tasks and deliverables instead of completely changing the structure.
Adding and Managing Tasks
Task Definition: Define individual tasks within each deliverable. Be as specific as needed for your business.
Task Assignment: Assign tasks to specific roles within your team (e.g., Administration, Structural Engineer).
Time Allocation: Estimate the time required for each task. This is crucial for calculating labor costs.
Task Types: Tasks can be categorised as "Task," "Event," or "Process Only."
Task: A standard task that requires time and cost allocation.
Event: Used for meetings, site visits, etc. Can be scheduled on the calendar in the final project.
Process Only: Used for quality control purposes (e.g., "Ensure Invoice Sent"). These tasks are not priced but are included in the project workflow.
Units: Set the unit of measurement for tasks (hour, day, per item). This is primarily for visual reference and doesn't directly impact calculations.
Adding Items: Click "Add Item" to add new tasks to a deliverable.
Editing Items: You can edit the name and description of existing tasks.
Reordering Items: Drag and drop items to reorder them within a deliverable or move them to a different deliverable.
Deleting Items: Click the delete icon to remove tasks or deliverables.
Managing Project Expenses (Third-Party Costs)
Adding Expenses: Add third-party costs, such as subcontractor fees or disbursements, to specific tasks.
Resource Type: Specify the resource type (e.g., Disbursement, Subcontractor). Customise cost types in the Customisation area of your Drum account.
Unit and Rate: Define the unit and rate for the expense.
Project Phases
Adding Phases: Divide your project into phases (e.g., Design, Support).
Phase Assignment: Assign each deliverable to a specific phase.
Costing per Phase: View cost breakdowns per phase in the left-hand column.
Managing Phases: Edit or delete phases as needed.
Converting to Template
Reusability: If you plan to reuse a project budget structure, convert it to a template. Click "Convert to Template" to save it for future use.
Template Management: Edit saved templates in the Customisation area of your Drum account (Avatar > Customisation > Quote Template options).
Syncing Budgets and Proposals
Sync budget by pressing the Sync budget button on left of screen.
Choose the consolidation method you require - Sync Budget.
Converting to Project
Convert to Project by clicking "Project Created for Quote. Create Another?"
button.
Check Project structure.
Click Convert to Project button.
This detailed explanation should give you a strong understanding of Drum's Project Budget feature. Remember to consult the support documentation or contact the support team for any further questions.