Budgets in Project Templates

Setting up budgets in your project templates

Updated over a week ago

Edition: Professional, Business, Enterprise

User-level: Director, Assistant Administrator, System Administrator

Previous steps: N/A

When you apply a project template to new or existing projects/proposals, all information in the template is added, including the budget. Including a budget in your project templates will allow you to save time by ensuring your projects have well thought-out budgets without starting from scratch.

How to update the budget of a project template

Open a project template you wish to edit, and using the Template dropdown menu, navigate to Plan > Budget. From the Budget page, you can edit the budget rates and units required for each stage, as you would in a project:

Planning Mode

All project templates are in Planning Mode, meaning the budget of each stage and the fee of each stage are the same. Utilise planning mode to create each stage fee from the budget.

What happens when I don't set up a budget?

If you don't set up your own resourced budget within a Project Template (or Project), Synergy will automatically create one for you.

How this calculation works:

  • It looks at the utilisation behind all the rates to work out, relatively, who is putting in hours.

  • That works out the ratio.

  • It then assumes everyone puts a bit of time into every project, to the total of the budget.

If we say everyone works 8 hour days. If you have one director and 7 architects, the calculation would assume each project needs 1 director hour per day and 7 architect hours (up to the value of the stage fee).

Note: This works best with smaller organisations that don't have a lot of Rates in Synergy, if you have a larger number of Rates, it's best to manually resource your Project templates (or Projects).


Where to next?

What other features does this relate to?

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