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Collecting and analysing Finances
Finance data is most commonly held in the project in a spreadsheet. The data is then automatically taken from the latest version of the spreadsheet and loaded into reports, dashboards and analysis as required.
This approach provides a pragmatic solution well suited to the variation of financial approaches between different customers. Each customer can have their own approach to project finances set up in their template including which aspects of the data they want to report on and in which format. This can also include charts held as images. The method template will automatically set up the template in each new project and set up the required reporting outputs too so that they display into a project report or show in the dashboard.
As the finances are held in a file they can be checked out and worked on outside the system or given to a colleague in the finance team without users having to learn some new finance tool and once the file is checked back in the data will be available for reporting or dashboards.
If all projects in your system use the same data arrangements for reporting (even if there are big arrangements for large projects and small arrangements for little projects) then the data can be automatically added together at the programme or portfolio level to give a combination picture based on the selected projects.
An auto-
If you don’t have a standard finances approach in your organisation then we can help there too as our standard method templates include a choice of finances templates either for Commercial projects (with profit and loss and cash management) or for internal project (with a simpler budget and costs model).
Finances built from Planner plans
When you are using a Planner file as your project plan it can automatically build your project budget based on the resources allocated to the tasks and their relevant cost rates. You can also include block fixed costs etc and this all rolls up at summary and total project level, makes budgeting much easier.
Once you are into delivery you can also collect the actual costs incurred against specific tasks in a time sheet like format and along with the % complete figure Planner then calculates the Actual cost for the project and the Progress Cost (what the actual cost should be based on the % completes of the various tasks). This data is part of your plan/task information held within the Project Controls database and can be seen in your displays. Pre packaged Views have been prepared to help you get this easily into dashboards, reports etc.
Financial Management
Finance templates and Planner templates provided in the method templates.
Finance templates and Planner templates provided in the method templates with the report production capability as described here (except the finances from Planner elements).
Finance templates and Planner templates provided in the method templates with the report production capability as described here.
Finance templates and Planner templates provided in the method templates with the report production capability as described here.
“Project finances matter, from the smallest project to the largest, PIAB will help you set budgets and manage cost control and reporting around this important area.”
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