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How to Create a Monthly Resource Cost Forecast in Microsoft Project

Maira Mehtab Sep 20, 2026 869 views

Question details

The user wants to generate a report showing the expected monthly resource costs for completed tasks within a project plan.

Product: Microsoft Project
Device & OS: not provided
Scenario: Tracking and reporting expected resource costs on a monthly basis for accurate budget forecasting.
Observed behavior: The goal is to accurately forecast and extract task-level resource costs per month for planning and reporting purposes.

Before you start

Ensure that your project plan has resources properly assigned with defined cost rates, and that all tasks have accurate estimated durations and logical dependencies before generating the forecast.

Solution 1Recommended

Generate Monthly Cost Forecasts using Usage Views

The most effective way to view monthly expected costs natively in Microsoft Project is by utilizing the built-in Task Usage or Resource Usage views and configuring the timescale.

To get reliable tracking, it is critical to avoid manually entered dates or constraints. Using auto-scheduled tasks and logical dependencies ensures your forecast remains dynamic and accurate as project variables change.

Set tasks to auto-schedule

Ensure all project tasks are set to auto-schedule and use logical dependencies instead of manual constraints for accurate forecasting.

Save a project baseline

Go to the 'Project' tab on the ribbon and select 'Set Baseline' to establish your planned tracking metrics.

Open Usage views

Navigate to the 'View' tab and select either 'Task Usage' or 'Resource Usage' to see the time-phased data grid.

Adjust the timescale to months

Right-click the time-phased grid on the right side, select 'Timescale', and set the bottom tier units to 'Months'.

Display the cost row

Right-click the details column in the time-phased grid and select 'Cost' to display the expected monthly costs for each task or resource.

Reliable Tracking Tip: Always update progress and set a status date to ensure your monthly planned and expected costs reflect actual project performance.

Solution 2

Export Cost Data to Excel for Custom Reporting

If you need to format, chart, or manipulate the monthly cost forecast further, exporting the usage data to a spreadsheet application is highly recommended.

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Manage Your Project Cost Reports with WPS Office

While Microsoft Project handles the complex scheduling, you can seamlessly analyze, chart, and present your exported monthly cost forecasts using WPS Spreadsheet. WPS Office is a free, lightweight, and highly compatible alternative for all your data reporting and document needs.

1. Download and install: Download WPS Office for free from the official website and install it on your device.
2. Open your exported report: Launch WPS Spreadsheet and go to 'File' > 'Open' to load the cost report exported from Microsoft Project.
3. Analyze and format: Use WPS Spreadsheet's built-in PivotTables and chart tools to format your monthly resource forecast professionally.

Fully compatible with Microsoft Excel (.xlsx) formats for opening exported Project cost reports.Lightweight and fast, ensuring smooth performance even with massive resource cost datasets.Built-in advanced charting and PivotTable tools for comprehensive budget forecasting.Free to use with a familiar, easy-to-navigate interface for seamless migration.

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Frequently Asked Questions

Why are my expected costs not showing up in the Task Usage view?

Ensure that you have assigned standard or overtime cost rates to your resources in the Resource Sheet, and that those resources are actively assigned to tasks with estimated work hours.

Can I view resource costs by week instead of by month?

Yes, you can adjust the time-phased grid timescale by right-clicking the grid header, selecting 'Timescale', and changing the bottom tier units from 'Months' to 'Weeks'.

Does saving a baseline affect my current cost forecast?

Saving a baseline simply captures the planned costs at that specific moment. As your project progresses and actual costs or durations change, comparing the current expected costs against your baseline helps you track budget variances.

How do I prevent tasks from shifting unexpectedly when calculating costs?

Use auto-scheduled tasks and rely on logical dependencies (such as Finish-to-Start) rather than manually entering date constraints. This allows the software to accurately calculate expected costs based on dynamic task durations.

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