Project Cost Management

Introduction

You can monitor and control labour costs, purchased material costs and expenses.

You can maintain a project chart of accounts either by copying it from a template (which can vary for different project types) or you can enter it from scratch.

You can specify both fully-burdened cost and charge-out (fee) rates for each person or designation, either using a default rate or a special override rate.

You can maintain project's budget, forecast and actual costs and revenues by month using the project financials spreadsheet Rich Internet Application.  Actual costs can be entered in the form of timesheets, creditors invoices and expense claims.

You can maintain and monitor both value and quantity.

You can maintain details about the basis of your budgets to provide an audit trail for how you calculated each budget amount.  Once authorised, you can freeze your project's budget so that it can no longer be modified.

You can print a wide variety of cost analysis reports and charts that will assist you to monitor the status of your project's costs.

You can maintain details about and monitor the status of all project revenues.  You can monitor project profitability.

RoadMap

Click on the following button to display a RoadMap that shows the project cost management functionality of PMComplete™.

When signed into PMComplete™ (but not when you click here) you can drill-down on the red branches of the RoadMap to display and maintain the underlying project data.

Detailed Cost Functions

PMComplete™ provides a complete suite of functions that allow you to maintain data in, monitor, analyse, report on and chart the following project information:

  • Budget Basis
  • Cost
  • Cost Contingency
  • Funding
  • Profit
  • Revenue
  • Creditors Invoices
  • Debtors Invoices
  • Expense Claims
  • Timesheet Costs

There is also a project cost management dashboard as well as a project cost management Wizard.

From the above you will see that PMComplete™ provides complete functionality for a Project Manager to manage the cost aspects of their projects.

 

(Project Benefits Register Report)