Budgeting and Estimation

Purpose of this Training

This training explains how budgeting and cost estimation are performed in ProjectVIEW ERP, ensuring that project budgets are accurately prepared, controlled, and aligned with project execution.

After completing this training, users will be able to:

• Create and manage project budgets

• Build estimates based on BoQs and cost structures

• Understand budget versions and approvals

• Prepare the project for cost control and forecasting

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Budgeting Overview

In ProjectVIEW ERP, budgeting is fully integrated with the project structure and financial controls.

This section explains:

• The role of budgets in project cost control

• How budgets relate to WBS, BoQs, and cost codes

• The difference between estimated, approved, and revised budgets

Budgets serve as the baseline for monitoring actual costs and project performance.

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Cost Estimating & BoQs

ProjectVIEW supports detailed cost estimating using Bills of Quantities (BoQs).

Users will learn how to:

• Create and manage BoQs

• Define quantities, unit rates, and total values

• Link BoQ items to WBS and cost codes

• Structure estimates for accurate cost tracking

This ensures that estimates are transparent, structured, and ready for execution.

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Budget Structure & Allocation

This section covers how budgets are allocated and structured within the project.

Users will see how to:

• Allocate budgets per WBS level

• Assign budgets to cost categories (materials, labor, subcontractors, etc.)

• Control budget distribution across project phases

Proper budget structure enables effective monitoring and reporting.

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Budget Versions & Approvals

ProjectVIEW allows full control over budget revisions.

This training explains:

• Creating multiple budget versions

• Approval workflows and authorization levels

• Tracking changes between original and revised budgets

This ensures auditability and controlled financial decision-making.

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Budget Validation & Readiness

Before moving to execution, users should verify:

• Budgets are fully allocated and approved

• Cost structures are correctly linked

• The project is ready for cost tracking and forecasting

Once validated, budgets become the reference point for actual cost comparison.

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Training Video

Embed the Budgeting & Estimating in ProjectVIEW ERP video here

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What’s Next

After completing budgeting and estimating, continue with:

Procurement & Subcontract Management