Project Costing Project Costing: For Project Driven Business
Project driven businesses have a different set of concerns. The project managers need to keep close control of project performance, by measuring project costs and revenues, budget overruns, collections, labor, retentions as well as other resources.
InfoMaster ERP Project Costing provides all that under one roof. The core module is suited for the standard project driven industry with integration to all the other InfoMaster ERP modules. For added functionality, extensions can be installed to provide increased functionality for specific industries.
InfoMaster ERP Project Costing for project driven business allows the following configuration :-
By monitoring and controlling material cost and expenses, the project manager can achieve on-time and on target earnings, with efficiency and productivity.
Measure performance and profitability
InfoMaster ERP for Project Management provides the management with a central tool for monitoring the cost and sales of each individual project. This ensures that the projects are run within budgets, at pre-defined cost efficiency levels, with targeted profitability.
• Costs are divided into several user-defined cost elements. Budgets can be entered for each of these costs elements. Billing structures and contents can be defined for convenience and ease of usage.
• Integration to core modules. By entering the project number from the other InfoMaster ERP modules, actual costs and sales amounts are captured to the specific project for analysis by the project manager. Hence the project manager will have access to real-time information as it is received and entered by the various departments. This solution allows the project manager to be constantly aware of project related costs, expenses, collections, payments, retention, provisions, deposits and billings, so that prompt action can be taken where necessary.
• Profitability of each project can also be measured using various realization methodologies depending on the industry and needs of the customer.
Resource Management
• Specialized project cash flow reporting allows the project manager to have a breakdown of the outstanding receivables and payables per project level. It will include Purchases that have been committed but not fulfilled as well as cost estimates per cost element. This information will allow the project manager to better manage existing resources (cash, material, labour, subcon, etc) perhaps allocating such resources to meet urgent requirements of other projects. Cash flow reporting also allows the project manager to identify which projects are currently self-financed or in need of financing assistance.
More than 20 years expertise in the Industry
With 25 years of successful ERP implementations for the construction and engineering related industries, we believe that our expertise will be a valuable tool in helping your company to achieve your goals for computerization and resource optimization. If you have any questions about our ERP software for the Construction and Engineering industries, please call us at +65 67475665 or click on one of the following tiles for more information on the Project Costing Module and benefits.
