Powerful Project Cost Management Software

Every project starts with planning. This means you need to start with the budget for your entire project. Then you need to track every expense for the project. Finally, you need to see the final report with your actual expenses and compare them with the planned budget.

So, let’s start with the project budget.

The easiest way to do budgeting inside Bitrix24 tasks and project is through custom fields. This means that you can easily break down project into tasks and assign budget for each task. For example - $200 for design, $1200 for printing, $800 for marketing.

Because in many businesses the primary expense is employee worktime, you need to use a workload planning tool in Bitrix24 to estimate how much time of certain employees or contractors the project is expected to take. This data can later be used for project cost control.

Next, you need to track your project expenses. There’s a free app in Bitrix24 that does that aptly called Expenses.

Some companies use burnup or burndown charts for tracking project progress. There’s an app for that as well (Project Burnup Chart).

Finally, if you bill your clients by the hour, you need to calculate total billable hours for the project and understand how much the project has actually cost you vs how much you’ll bill your client. Bitrix24 Billable hours app to the rescue.

The best thing? 99% of all project management tools and features are available absolutely free of charge, and those expense tracking tools that aren’t available to free account users only require a commercial subscription and don’t cost anything extra. And yes, Bitrix24 comes with unlimited tasks, projects, expense tracking and reports even in the free plan. There’s even a free client management module (CRM) that’s fully integrated with your free project management Bitrix24 account.