How it works

Project budget tracking is highly important when working with project management resources. You can easily keep track of the budget of your projects as it is clearly displayed in the top right of each project page. As well as viewing the total amount, you can also see a colour indication of whether your project is in the budget or gone over, so you can identify its status in one glance.

This means you can make plans to correct any issues if you’re reaching the budget limit too quickly. This also means that anyone that is a part of the project can easily view if they are near the allotted budget, so they do not overspend and are aware that this may be an issue.

Set a Budget

To keep track of your budgets, first you will need to set a budget for an account. This will be the maximum limit for all projects that use this account. So, if you select this account when creating a project, it will reflect the account’s maximum budget. For example, if you chose an account that has a limit of $10,000 when creating a project, you cannot set a budget any higher than $10,000 for this project.


You can also set up alerts to warn you when you are approaching your specified limit in both projects and at the account level, so you are notified when anyone who is using your account for any of their projects has neared your set budget. This is incredibly important if you are dealing with very specific constraints to be notified before it reaches this limit.

When setting up an account and project, you can set alert thresholds for when the budget reaches your chosen limits, as well as the email addresses that will be notified. Any email addresses added when creating or editing the account, cannot be removed as recipients when a user is creating a project. So, you have full control and knowledge of the use of your accounts.

Clearly View your Budget

Once you begin to use the project and add resources, any incurred costs will be displayed at the top of the project. When you use resources such as workstations and solution collections, you will be able to track these costs against the set budget. For example, if you set an email alert to be sent at 70% of a budget of $1,000, Loome will send you an email when the project costs have reached $700.

A gif displaying how Loome Assist's Budget Tracking feature works.
Find out More
Visit our online documentation today to learn how to adjust your budget and alerts and how you can track your budget in projects.