What are the tools and software that you use for research project budgeting and management?

1 Spreadsheet software

One of the most basic and widely used tools for research project budgeting and management is spreadsheet software, such as Microsoft Excel, Google Sheets, or LibreOffice Calc. Spreadsheet software allows you to create, edit, and share budget templates, formulas, charts, and reports. You can also use spreadsheet software to import and export data from other sources, such as accounting systems, databases, or online surveys. Spreadsheet software is flexible, accessible, and familiar to most researchers, but it can also have some limitations, such as data security, version control, and collaboration.

2 Project management software

Another popular tool for research project budgeting and management is project management software, such as Asana, Trello, or Basecamp. Project management software helps you organize, monitor, and communicate your research project tasks, milestones, and deliverables. You can also use project management software to assign roles, responsibilities, and deadlines to your team members, track their progress and feedback, and integrate with other tools, such as email, calendar, or cloud storage. Project management software is useful for managing complex and dynamic research projects, but it can also require some training, customization, and subscription fees.

3 Budgeting software

A more specialized tool for research project budgeting and management is budgeting software, such as BudgetPak, Budget Maestro, or PlanGuru. Budgeting software helps you create, analyze, and forecast your research project budget, using various features, such as scenario planning, variance analysis, cash flow projection, and performance indicators. You can also use budgeting software to align your budget with your research objectives, strategies, and outcomes, and to generate and share budget reports and dashboards. Budgeting software is designed for enhancing your budget accuracy, efficiency, and transparency, but it can also be costly, complex, and time-consuming to implement and maintain.

4 Accounting software

Another essential tool for research project budgeting and management is accounting software, such as QuickBooks, Xero, or FreshBooks. Accounting software helps you record, process, and report your research project financial transactions, such as income, expenses, invoices, and taxes. You can also use accounting software to track and reconcile your bank accounts, credit cards, and grants, and to comply with the accounting standards and regulations of your institution, funder, or auditor. Accounting software is important for ensuring your financial accountability, compliance, and auditability, but it can also be challenging to integrate with your other tools, systems, and workflows.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?