Quick Overview
- 1#1: Microsoft Project - Provides comprehensive project cost tracking, budgeting, resource allocation, and earned value management for detailed financial oversight.
- 2#2: Oracle Primavera P6 - Delivers enterprise-level project portfolio management with advanced cost control, forecasting, and variance analysis for complex projects.
- 3#3: Deltek Costpoint - Offers ERP-based project cost tracking tailored for government contractors and professional services with precise labor and expense management.
- 4#4: Procore - Enables real-time construction project cost tracking, budgeting, change orders, and financial reporting through a cloud-based platform.
- 5#5: Float - Facilitates resource scheduling, capacity planning, and project budgeting with accurate cost forecasting and profitability insights.
- 6#6: monday.com - Allows customizable dashboards for tracking project costs, expenses, budgets, and timelines in a visual work management platform.
- 7#7: Wrike - Supports project cost tracking through finance modules, custom fields for expenses, and reporting on budget vs. actuals.
- 8#8: Smartsheet - Uses spreadsheet-like sheets to track project budgets, costs, and forecasts with automation and real-time collaboration.
- 9#9: Harvest - Tracks time, expenses, and invoices to provide accurate project cost reporting and profitability analysis.
- 10#10: ClickUp - Includes time tracking, custom fields, and dashboards for monitoring project budgets and costs in an all-in-one platform.
We evaluated tools based on feature depth (including budgeting, forecasting, and resource management), reliability, ease of use, and overall value, ensuring they cater to project scales and industry-specific requirements.
Comparison Table
Effective project cost tracking relies on the right software, making this comparison table essential for those evaluating tools like Microsoft Project, Oracle Primavera P6, Deltek Costpoint, Procore, Float, and more. Readers will discover key features, integration strengths, and usability insights to determine which solution best fits their project size, industry, and workflow needs.
| # | Tool | Category | Overall | Features | Ease of Use | Value |
|---|---|---|---|---|---|---|
| 1 | Microsoft Project Provides comprehensive project cost tracking, budgeting, resource allocation, and earned value management for detailed financial oversight. | enterprise | 9.2/10 | 9.8/10 | 7.5/10 | 8.7/10 |
| 2 | Oracle Primavera P6 Delivers enterprise-level project portfolio management with advanced cost control, forecasting, and variance analysis for complex projects. | enterprise | 9.2/10 | 9.7/10 | 6.8/10 | 8.4/10 |
| 3 | Deltek Costpoint Offers ERP-based project cost tracking tailored for government contractors and professional services with precise labor and expense management. | enterprise | 8.7/10 | 9.2/10 | 7.1/10 | 8.0/10 |
| 4 | Procore Enables real-time construction project cost tracking, budgeting, change orders, and financial reporting through a cloud-based platform. | enterprise | 8.6/10 | 9.2/10 | 7.8/10 | 8.1/10 |
| 5 | Float Facilitates resource scheduling, capacity planning, and project budgeting with accurate cost forecasting and profitability insights. | specialized | 8.4/10 | 8.6/10 | 9.2/10 | 7.9/10 |
| 6 | monday.com Allows customizable dashboards for tracking project costs, expenses, budgets, and timelines in a visual work management platform. | other | 7.8/10 | 8.0/10 | 8.5/10 | 7.0/10 |
| 7 | Wrike Supports project cost tracking through finance modules, custom fields for expenses, and reporting on budget vs. actuals. | other | 7.2/10 | 7.0/10 | 6.8/10 | 6.9/10 |
| 8 | Smartsheet Uses spreadsheet-like sheets to track project budgets, costs, and forecasts with automation and real-time collaboration. | other | 8.1/10 | 7.8/10 | 8.5/10 | 8.0/10 |
| 9 | Harvest Tracks time, expenses, and invoices to provide accurate project cost reporting and profitability analysis. | specialized | 8.6/10 | 8.7/10 | 9.4/10 | 8.2/10 |
| 10 | ClickUp Includes time tracking, custom fields, and dashboards for monitoring project budgets and costs in an all-in-one platform. | other | 7.0/10 | 6.5/10 | 8.0/10 | 7.5/10 |
Provides comprehensive project cost tracking, budgeting, resource allocation, and earned value management for detailed financial oversight.
Delivers enterprise-level project portfolio management with advanced cost control, forecasting, and variance analysis for complex projects.
Offers ERP-based project cost tracking tailored for government contractors and professional services with precise labor and expense management.
Enables real-time construction project cost tracking, budgeting, change orders, and financial reporting through a cloud-based platform.
Facilitates resource scheduling, capacity planning, and project budgeting with accurate cost forecasting and profitability insights.
Allows customizable dashboards for tracking project costs, expenses, budgets, and timelines in a visual work management platform.
Supports project cost tracking through finance modules, custom fields for expenses, and reporting on budget vs. actuals.
Uses spreadsheet-like sheets to track project budgets, costs, and forecasts with automation and real-time collaboration.
Tracks time, expenses, and invoices to provide accurate project cost reporting and profitability analysis.
Includes time tracking, custom fields, and dashboards for monitoring project budgets and costs in an all-in-one platform.
Microsoft Project
enterpriseProvides comprehensive project cost tracking, budgeting, resource allocation, and earned value management for detailed financial oversight.
Earned Value Management (EVM) providing CPI and SPI metrics for real-time cost performance insights
Microsoft Project is a comprehensive project management software that excels in cost tracking through features like resource cost rates, baseline budgeting, and earned value management (EVM). It allows users to assign costs to tasks, resources, and materials, track variances against budgets, and generate detailed cost reports. Integrated with the Microsoft ecosystem, it supports real-time collaboration and advanced analytics for precise financial oversight in complex projects.
Pros
- Robust earned value management for schedule and cost variance analysis
- Flexible resource and cost rate assignment with baseline tracking
- Seamless integration with Excel, Power BI, and Microsoft 365 for enhanced reporting
Cons
- Steep learning curve for non-expert users
- Higher pricing compared to dedicated cost tracking tools
- Overly complex for simple projects without full PM needs
Best For
Enterprise teams managing large-scale projects requiring integrated scheduling, resource allocation, and precise cost control.
Pricing
Starts at $10/user/month for Project for the web (Plan 1), $30/user/month for Plan 3, and $55/user/month for Plan 5; desktop versions available via one-time purchase or Microsoft 365 subscription.
Oracle Primavera P6
enterpriseDelivers enterprise-level project portfolio management with advanced cost control, forecasting, and variance analysis for complex projects.
Integrated Earned Value Management that seamlessly links cost performance to schedule progress for precise project control
Oracle Primavera P6 is an enterprise-grade project management software renowned for its robust scheduling and cost control capabilities, particularly suited for large-scale projects in construction, engineering, and energy sectors. It enables detailed project cost tracking through features like earned value management (EVM), budgeting, resource cost allocation, variance analysis, and forecasting. Users can establish cost baselines, monitor actuals against plans in real-time, and generate comprehensive reports to ensure financial accountability throughout the project lifecycle.
Pros
- Advanced earned value management (EVM) with CPI/SPI metrics tied to schedules
- Scalable cost hierarchies and multi-currency support for complex projects
- Powerful reporting and analytics for cost variance and forecasting
Cons
- Steep learning curve requiring specialized training
- High implementation and licensing costs
- Overkill for small or simple cost tracking needs
Best For
Large enterprises and project teams managing multi-million-dollar projects with integrated scheduling and intricate cost controls.
Pricing
Enterprise licensing with custom quotes; subscriptions typically start at $2,500-$5,000 per user/year, plus implementation fees.
Deltek Costpoint
enterpriseOffers ERP-based project cost tracking tailored for government contractors and professional services with precise labor and expense management.
DCAA-compliant intelligent costing engine with automated audit trails and compliance reporting
Deltek Costpoint is a robust ERP platform designed for government contractors and project-centric businesses, offering advanced project cost tracking, accounting, and compliance management. It provides real-time visibility into labor, materials, subcontracts, and overhead costs, with tools for budgeting, forecasting, and earned value management. The software ensures DCAA and FAR compliance through detailed audit trails and automated reporting, making it ideal for complex, regulated project environments.
Pros
- Exceptional DCAA/FAR compliance and audit-ready reporting for government projects
- Comprehensive real-time cost tracking across labor, expenses, and resources
- Scalable integration with Deltek ecosystem for end-to-end project lifecycle management
Cons
- Steep learning curve and complex implementation requiring significant training
- High enterprise-level pricing not suitable for small businesses
- Overly robust for simple cost tracking needs, leading to feature overload
Best For
Mid-to-large government contractors and engineering firms needing DCAA-compliant project cost tracking and compliance.
Pricing
Custom enterprise pricing; typically starts at $50,000+ annually based on users, modules, and deployment (cloud or on-premise).
Procore
enterpriseEnables real-time construction project cost tracking, budgeting, change orders, and financial reporting through a cloud-based platform.
Integrated Financials dashboard with automated budget-to-actual variance tracking and AI-driven forecasting
Procore is a comprehensive cloud-based construction management platform with robust project cost tracking capabilities, enabling real-time monitoring of budgets, expenses, commitments, and change orders. It integrates financial data across the entire project lifecycle, providing tools for forecasting, variance analysis, and reporting to keep costs under control. Users can link costs to schedules, documents, and RFIs for a holistic view of project finances.
Pros
- Comprehensive integration of cost data with project documents and schedules
- Real-time forecasting and variance reporting for proactive cost control
- Strong mobile app for on-site cost updates and approvals
Cons
- Steep learning curve due to extensive features
- High cost may not suit small projects
- Customization requires admin support
Best For
Mid-to-large construction firms managing complex projects with multiple subcontractors needing integrated cost visibility.
Pricing
Custom quote-based pricing; typically $500-$1,000+ per month per project depending on size and features.
Float
specializedFacilitates resource scheduling, capacity planning, and project budgeting with accurate cost forecasting and profitability insights.
Visual capacity planning timeline that dynamically calculates and forecasts project costs based on resource rates and utilization.
Float is a visual resource management and scheduling platform designed for teams to plan capacity, assign work, and track time against projects. It supports project cost tracking by allowing users to set hourly rates for team members, clients, and roles, automatically calculating forecasted costs, billable amounts, and profitability based on schedules and actual time entries. The tool provides dashboards for monitoring budgets, overages, and revenue vs. costs, with forecasting capabilities to predict project financials.
Pros
- Intuitive drag-and-drop scheduling with real-time cost forecasting
- Comprehensive profitability reporting and budget alerts
- Seamless integrations with accounting tools like QuickBooks and Xero
Cons
- Limited native support for non-time-based expenses (relies on integrations)
- Pricing scales quickly for larger teams
- Less emphasis on detailed cost categorization compared to dedicated expense trackers
Best For
Creative agencies, consulting firms, and service-based teams that prioritize resource scheduling alongside time-driven project cost and profitability tracking.
Pricing
Starts at $6/user/month (billed annually) for basic scheduling; Extend plan at $10/user/month adds time tracking and profitability; Scale at $15/user/month includes advanced forecasting and custom reports.
monday.com
otherAllows customizable dashboards for tracking project costs, expenses, budgets, and timelines in a visual work management platform.
No-code automations that trigger budget alerts, approvals, and updates based on cost thresholds
monday.com is a versatile work operating system that excels in customizable boards for project management, allowing users to track costs through numeric columns, formulas for budget calculations, timelines, and expense logging. It supports real-time monitoring of project budgets, actual spends, variances, and automated notifications for overruns via its no-code automations. Dashboards provide visual overviews of financial data, with integrations to tools like QuickBooks for enhanced cost tracking capabilities.
Pros
- Highly customizable boards and formula columns for precise budget tracking and forecasting
- Real-time dashboards and charts for visualizing cost variances and performance
- Strong integrations with accounting software like QuickBooks and Xero
Cons
- Requires significant setup and customization for robust cost tracking
- Lacks native advanced financial features like invoicing or tax calculations
- Per-user pricing can become expensive for larger teams
Best For
Teams already using monday.com for project management who need flexible, visual cost tracking integrated into their workflows.
Pricing
Free for individuals; paid plans start at $9/user/month (Basic, annual billing) up to $19/user/month (Pro); Enterprise custom.
Wrike
otherSupports project cost tracking through finance modules, custom fields for expenses, and reporting on budget vs. actuals.
Budget management with automated overrun alerts and visual progress bars
Wrike is a versatile project management platform that offers built-in cost tracking features, allowing users to set project budgets, log time and expenses, and monitor spending against plans through custom fields and reports. It supports resource allocation with hourly rates for accurate cost forecasting and includes dashboards for real-time visibility into financial performance. While not a dedicated finance tool, its integration with accounting software like QuickBooks enhances cost management within broader project workflows.
Pros
- Flexible budgeting tools with planned vs. actual tracking
- Custom fields and time tracking for detailed expense logging
- Robust reporting and dashboards for cost insights
Cons
- Cost tracking requires significant setup and customization
- Feature-rich interface can overwhelm beginners
- Advanced financial features locked behind higher tiers
Best For
Mid-sized teams managing complex projects who need integrated PM and moderate cost tracking without dedicated finance software.
Pricing
Free plan available; paid plans start at $9.80/user/month (Pro), $24.80/user/month (Business), up to Enterprise (custom pricing), billed annually.
Smartsheet
otherUses spreadsheet-like sheets to track project budgets, costs, and forecasts with automation and real-time collaboration.
Formula-driven sheets that automatically calculate cost variances and rollups across projects
Smartsheet is a cloud-based work management platform that uses a familiar spreadsheet interface to enable project cost tracking through customizable sheets, formulas, and dashboards. It supports budget creation, expense logging, variance calculations, and real-time collaboration for teams managing project finances. While versatile for general project management, it offers solid cost tracking via integrations with accounting tools like QuickBooks and automated alerts for overruns.
Pros
- Highly customizable sheets with formulas for precise budget tracking and cost rollups
- Real-time dashboards and reports for monitoring project expenses
- Integrations with financial tools like QuickBooks and ERP systems
Cons
- Lacks advanced financial forecasting or invoicing compared to dedicated accounting software
- Resource cost management requires higher-tier plans
- Can become complex for non-spreadsheet-savvy users in large-scale tracking
Best For
Project managers and teams using spreadsheet-like tools who need integrated cost tracking within broader work management.
Pricing
Starts at $7/user/month (Pro, billed annually); Business at $25/user/month; Enterprise custom with resource management features.
Harvest
specializedTracks time, expenses, and invoices to provide accurate project cost reporting and profitability analysis.
Real-time budget pulse dashboard showing spend vs. budget with visual alerts
Harvest is a user-friendly time tracking and invoicing platform that excels in capturing billable hours, expenses, and project budgets to monitor costs effectively. It enables teams to log time across desktop, mobile, and web interfaces, assign rates to calculate labor costs, and track against predefined budgets for projects. Detailed reports provide insights into profitability, overruns, and forecasting, making it a solid choice for deriving project costs from time and expenses data.
Pros
- Intuitive time tracking with mobile and desktop apps syncing seamlessly
- Strong budget tracking with alerts for overruns and profitability reports
- Excellent integrations with tools like Asana, QuickBooks, and Slack
Cons
- Limited native resource scheduling or advanced Gantt charts
- Reporting customization is basic compared to dedicated PM software
- Pricing scales up quickly for larger teams without unlimited users
Best For
Small agencies and freelance teams needing simple, accurate project cost tracking via time and expenses.
Pricing
Free for 1 user (2 projects); Pro at $12/user/month (annual); Elite at $18/user/month with priority support and custom reports.
ClickUp
otherIncludes time tracking, custom fields, and dashboards for monitoring project budgets and costs in an all-in-one platform.
Custom fields with formulas that allow dynamic cost calculations and rollups across projects
ClickUp is a comprehensive project management platform that can be customized for project cost tracking using custom fields, formulas for calculations, time tracking, and dashboards. It enables teams to assign costs to tasks, monitor budgets against actuals, and generate reports on resource expenses. While versatile, it requires setup to function effectively as a cost tracking solution rather than offering out-of-the-box financial tools.
Pros
- Highly customizable with formulas and custom fields for cost calculations
- Integrated time tracking links labor hours to monetary values
- Real-time dashboards provide visual cost overviews and insights
Cons
- Lacks native advanced cost features like automated forecasting or expense approvals
- Steep initial setup required for effective cost tracking workflows
- Interface can feel overwhelming for finance-only users
Best For
Teams already using ClickUp for project management who need integrated basic cost tracking without additional tools.
Pricing
Free plan available; paid plans start at $7/user/month (Unlimited, billed annually), Business at $12/user/month, Enterprise custom.
Conclusion
The top 10 tools provide varied solutions for project cost tracking, with Microsoft Project leading as the standout, offering comprehensive oversight, budgeting, and earned value management. Oracle Primavera P6 excels for enterprise-level complexity and advanced forecasting, while Deltek Costpoint remains a top pick for government contractors and professional services, leveraging ERP integration for precision. The right choice depends on specific needs, but these three set the standard for value.
Don’t wait—explore Microsoft Project to streamline your cost tracking and gain better control over your projects.
Tools Reviewed
All tools were independently evaluated for this comparison