The Project Health Scorecard Part 2: Budget

Professor of Project Management Project Execution and Monitoring, ,

Executing Monitoring and Controlling

Here is the suggested guidance for the status of the Project Budget Health:

Your Budget Health is Green if:

  • You have an approved budget
  • It is actively managed
  • The current forecast is within the approved budget

Your Budget Health is Yellow if:

  • You have an approved budget
  • The current forecast is greater than the approved budget but corrective action is defined and likely to resolve the problem.

Your Budget Health is Red if:

  • You don’t have a budget
  • OR you have a  budget and the forecast is greater than the current budgeted amount and corrective action is not possible
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