Get this template here: https://tinyurl.com/3fux8tm3
Be sure to reference the 'Project Cost Tracking Template'.


This video shows how to use a cost tracking worksheet template for project management. It explains the purpose and features of the template, and provides an example of a hotel renovation project.

**Highlights**:
+ [00:00:02] *The purpose of the cost tracking worksheet*
* Compiles all planned and actual costs for the project
* Calculates the budget variance and gross margin
* Tracks the purchase orders, products, and invoices

+ [00:00:51]**The columns of the cost tracking worksheet**
* Cost code, description, vendor, purchase order number
* Original budgeted cost, committed cost, paid cost, freight cost, open po cost
* Estimate to complete, estimated cost at completion, variance
* PO placed, product received, invoice paid

+ [00:01:52]**The categories of the cost tracking worksheet**
* Allows to group the items by different types
* Examples: labor, materials, equipment, travel, etc.

+ [00:02:03]**An example of a hotel renovation project**
* Original contract: $60,000
* Original budgeted cost: $40,450
* Estimated cost at completion: $34,600
* Gross margin: $25,400 (42.33%)

You might also find the 'Project Budget Tracking Template' of interest:
   • Project Budget Tracking Template  


Keywords:
#MicrosoftExcel
#CostTrackingWorksheet
#ProjectBudget
#ProjectCost

Links:
http://www.AIinProjectManagement.com
http://www.RichWeller.com
https://www.PMConnection.com
http://www.WellerScholarship.org
Project Management Playlist:    • Citizen Developer and The Digital PMO