What's the difference? And how do we input and track direct and indirect costs in Jira?

[#1]

When monitoring projects in Jira, solutions usually focus on tracking every other aspect except the economic, ignoring basic and essential aspects such as direct and indirect costs.

If you're usually not into a project's financials beyond dealing with suppliers' economic proposals and allocations, this might sound foreign to you, but it would be good to learn about this essential information.

Classifying costs will ensure adequate project budget tracking and a proper decision-making process. As mentioned, two important types of expenses to track are direct costs and indirect costs. So, let's get into them:

• Direct costs are those directly attributed to a specific project, product, or service. They're incurred when resources are destined exclusively for the production or execution of a particular activity. 
  
  
• Indirect costs, or overhead costs, cannot be directly traced or attributed to a specific project, product, or service. They're incurred when running a business but don't directly contribute to producing a product or service.

Once those concepts are established, I'm glad to let you know there's a straightforward solution focused on solving project management struggles regarding tracking costs and budgets for Jira.

The solution's name is Budgety, and I encourage you to try it for free in the Atlassian Marketplace (or from the Settings section of your Jira). This would be the first step in tracking direct and indirect costs.

Once Budgety is installed, you'll be able to start imputing the information from your budgets (1), associating them to the projects of interest (2), and oversee the budget information (3), as you can see in the following screens:

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After setting the budget information, now's the time to start adding the type of costs you want to monitor (direct, indirect -and CAPEX and OPEX, but that would be for another post😉), also associating them based on logged work or not (4), besides having the opportunity to add details about these costs, or even deleting them (5), and voilá!! You'll be able to track costs and budgets by just looking at your dashboard for cost and budget tracking!!(6):

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You can also read more details about how to do this here.

If you think that's everything, the upcoming integration Budgety has with Atlassian's artificial intelligence, Rovo, makes life way easier. In this example, you can see how it will work when asking to deliver an executive summary with all the budgets:

Cool, right? Imagine all the possibilities you can start making a reality by getting Budgety right here and trying it for free.

[Manmadha Kudupudi]

We are expecting same functionality in DC

[Huwen Arnone _Deiser_]

Hi @Manmadha Kudupudi, unfortunately, Budgety is only available in Cloud☁️

If you're looking for other project management solutions in DC, I would recommend taking a look at Projectrak 😉