Remotinio
< Back
Published on

Preventing Budget Overruns, a 6 Step Time-Tracking Playbook for Project Managers

Almost two-thirds of creative projects exceed their budgets, reports PMI Pulse of the Profession. Budget slip usually starts small: an hour here, a tweak there. Good news, Remotinio already captures every minute; you just need a clear routine to read the data and react fast.

Step 1. Build Your Budget Tracker Sheet

  1. Open Google Sheets, name it “Project Budget Tracker”.
  2. Add columns: Project, Sub-project, Planned Hours, Actual Hours (MTD), Variance %, Status.
  3. For each deliverable (logo, landing page, QA) create a sub-project in Remotinio and copy its planned hours into the sheet.
  4. Share the sheet link with the team in Slack so budgets stay visible.

Checklist
• Every deliverable listed with planned hours
• Sheet link pinned in project channel

Step 2. Log Time Daily, not on Friday Evening

Late entries hide overruns. A Memtime research article shows time entries logged more than two days late can be inaccurate by 45 percent or more.

  • Ask everyone to start a timer whenever they work on a task.
  • Enable Remotinio’s end-of-day reminder email; users with zero hours receive a prompt.
  • Adopt a “no blank days” rule: hours must be logged before leaving.

Checklist
• Timers running Day 1
• Daily reminders active
• Manager scans for blanks at 4 p.m.

Step 3. Run a Mid-Week Budget Check Every Wednesday

Remotinio’s timesheet shows month-to-date totals; that is enough to catch drift early.

  1. Open Timesheet; ensure the selector is on the current month.
  2. For each sub-project, copy the Hours figure into the Actual Hours (MTD) column of your sheet.
  3. Let Google Sheets calculate Variance % = (Actual − Planned) ÷ Planned.
  4. Set conditional formatting in the sheet: green under 70 percent, yellow 70-90, red above 90.

Checklist
• All actuals copied by Wednesday noon
• Cells coloured by variance
• Yellow and red rows flagged for action

Step 4. Trigger Mid-Sprint Action on Yellow Rows

PMI’s Pulse of the Profession report notes that projects double their overrun risk when teams wait a full week to react to early warnings.

  • If a sub-project cell turns yellow:
    • Scope adjust: delay low-priority tasks to next sprint.
    • Resource swap: move an available teammate into the sub-project.
    • Client alert: email the client with current hours, hours left, and a mitigation plan.
  • Note the decision in the Status column; change colour back to green once the fix is underway.

Checklist
• Decision logged within 24 hours
• Sheet status updated
• Client informed when scope, timeline, or cost changes

Step 5. Friday Variance Review

  1. Open Timesheet (still month view).
  2. Copy updated Actual Hours into the sheet.
  3. Re-calculate Variance %.
  4. If variance exceeds five percent, add a one-line cause in Status; if under plan, add a green “Win” note.

Checklist
• Variances recorded
• Overruns annotated; wins celebrated

Step 6. Produce a Monthly Budget Health Report

On the first workday each month:

  1. Export Reports → Project as CSV.
  2. Pivot total hours by project and sub-project.
  3. Compare aggregate variance to last month; highlight patterns (same deliverable overruns, same role idle).
  4. Store the file in Finance → Ops → Budget Health for trend history.

Checklist
• CSV saved with date stamp
• Three insights added to next sprint retrospective

Common Overrun Scenarios and Fast Fixes

Scenario Root cause Quick fix inside Remotinio
Design polish runs long Gold-plating Add a Polish sub-project with a fixed ten percent cap.
QA crunch at deadline Testing postponed Create a QA sub-project, schedule testing tasks each week.
Developer idle days Dependency waits Surface blockers in daily stand-up and reassign tasks same day.

Related reads: Scope Creep Costs Real Dollars; 7 Silent Profit Killers.

FAQ

Why use an external Google Sheet instead of Remotinio alone?
Remotinio tracks actual hours perfectly; the sheet stores planned hours and colours variance, something the current UI does not do.

How accurate should my estimates be?
Aim within ten percent. Refine by storing actuals next to estimates and adjusting future quotes.

Does Remotinio send automatic budget alerts?
Automatic alerts are on the roadmap; until then, the Wednesday sheet check is your early-warning system.

My team sometimes forgets timers; does that ruin the data?
Use daily reminders and enforce end-of-day logging. Late entries distort data; prevention is faster than reconstruction.

Next Action

Copy the Project Budget Tracker sheet template, map your current sprint, and run the first Wednesday check tomorrow. Consistent weekly reviews prevent overruns before they start.

Ready to see budget status live without spreadsheets? Start a free 14-day Remotinio trial now, no credit card required.