Track project costs by phase, milestone, and resource type. This template covers internal labour, external contractors, materials, and overheads with earned value tracking to monitor budget health throughout the project lifecycle.
What's included
Template preview
Step by step
Break your project into phases and list key milestones. Each phase gets its own budget allocation.
For each phase, estimate internal labour hours, contractor costs, materials, and overheads. Use day rates or hourly rates for labour.
Add a contingency line — typically 10-20% of the total budget — to cover scope changes and unforeseen costs.
Update the spent column weekly to monitor burn rate. The template calculates remaining budget and earned value metrics automatically.
At each milestone, compare planned vs actual cost and timeline. Adjust future phase budgets if needed.
Watch out
Underestimating the cost of internal labour by not applying fully loaded rates
Setting a contingency reserve that is too small for the project risk profile
Tracking spend monthly instead of weekly, which delays problem detection
Related templates
Import this template directly into Grove FP and start planning. No credit card required.
FAQ