When initiating a project for a client, it's common to estimate the total amount of hours required to finish said project. However, the estimated hours are usually different from the actual hours spent on a project.
To avoid going over budget, it's useful to keep track of the time your team is spending on each project and compare it to the number of budgeted hours.
In your Report Center, on the Projects Management page, when creating a new project or editing an existing one, you can set the Total estimated hours to the value you and your team agreed upon.
On each project's page (accessible by clicking the project's name anywhere on the Report Center), you can then monitor the project's Overall Progress, where it shows how many of the contracted hours were already consumed, and the balance of consumed hours vs contracted hours.