BCS Project Costing
Project Costing solution of BCS offers project cost visibility and cost management efficiency, thereby enabling greater accountability and accuracy. Robust expense management solution is known to span planning cycle, ranging from budget estimation to forecasting, via all project stages from execution to posting and General Ledger.
Key Benefits
Quick detection and resolution of unexpected circumstances.
Ensure projects being within the budget.
Monitor closely and track project expenditure.
Improve project profitability.
Project Costing of BCS includes:
Project Profitability Report
Project Budgeting
Project Costing
Project Budgeting of BCS offers the best estimation to the project stakeholders with regards to the cost involved in the project, thereby providing you with the opportunity to bill budgets and set cost for project labor & expenses a task and project level. Also is allowed managing of expectations and providing information for development of cost-benefit analysis. Budget is used to determine if the project is viable financially or not. Project Costing of BCS provides you with the visibility to detect quickly unexpected situations and resolve it, like milestone changes, project overruns and scope creep. Analyzing budget vs. actual not only is valuable to manage the existing project, as well as to estimate future projects. Project Costing of BCS allows:
Monitor Project Performance: Use integrated, timey costing combined with budgeted information to ensure execution of project and to meet expectations. It also enables weighing of expected benefits vs. expected expenditure to check if the project is viable or not.
Drive Profitability: Enable project based and activity based management abilities to drive profitability and enhance cost performance.
Evaluate costs: Project expenses and cost comparison to revenue and budget to track profitability and progress.
Avail Strategic Insights: Access reports easily along with drill-down abilities which offer detailed analysis, thereby assisting to identify issues prior to occurrence by reviewing every project activity’s critical details during any time of the project cycle.
Seamless integration: Project Costing of BCS integrates seamlessly with the other Service Resource Planning and BCS Project management applications.
Key Abilities
Project Costing
It allows labor cost calculation based upon tracked time combined with account for costs entered in the general ledger
Project Budgeting
It allows setting up of billing budgets and costs for project expenses and labor at both task and project level. It is possible to set budgets on monthly basis. Those budgets which are set at project task levels can be rolled to project level. Few reports might provide insight of how actual is to be compared with the budgets and maintain the project within the set budget.
Project Profitability Report
It allows project managers to evaluate the items that have been billed & recognized as associated actual costs, revenue and profitability. It also offers detailed information on costs, margin and revenue on each project, thereby allowing you to have a clear view as to where money is coming from or lost.
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