Sud, my first question is whether you will be entering actual hours into the plan? In order to do any tracking to budget you will need to enter actual, which most PMs don’t do. Doing that will give you information on where that resource is compared to budget. You will be able to see the comparison and can even create a KPI type field to show when the resource is reaching or has reached that budget. But, first things first. Will the information be entered into MS Project?