Tracking Costs and Budgets (v8.xx)
Geniusproject provides a number of views and documents so organizations can track financial progress across projects.
Geniusproject is a flexible, open solution allowing users to create reports and views as needed. It is also possible to interface with external applications, such as an ERP.
The views
The "Cost tracking" views, found under "Costs & Budgets" in [Projects] tab contextual navigation
menu, contain the elements necessary to track project financial progress. They display forecasted, planned,, used and remaining budgets and allow for financial tracking of hours worked by resources, purchases and investments, margins and invoicing.
The "Budget tracking by project" view
This is one of the cost tracking views included with Geniusproject’s default setup. It consolidates information from budgets, assignments, time sheets and costs.
The "Budget" columns display values defined in forecasted budgets.
The "Planned" columns display values based on planned tasks and assignments. The "Actual" columns display the values for actual time and costs.
The view consolidates information by project and cost type. If the budget is broken down by period then the information will be categorized by period, then project, then type.
The view provides a very detailed breakdown of labor and non-labor related costs and their differences from what was forecasted in the budget. The data in this view is only accurate if time sheets are being used.
Budget Value.
Actual value from a timesheet line.
Planned value for an assignment. Planned and actual values for a cost.
The view "Financial indicators by month"
This is one of the cost tracking views included with Geniusproject’s default setup. The values are pulled from the project overviews and displays financial indicators by month. The elements are added up at the project level, and at the top level, including sub-projects.
This view provides a clear vision of the evolution of projects costs from month to month.
The view "Project cost tracking"
This is one of the cost tracking views included with Geniusproject’s default setup. It’s a simple configurable view that lists project tasks and costs with their forecasted/ planned and actual costs.
The view "Project cost tracking by phases"
This is one of the cost tracking views included with Geniusproject’s default setup.
This view shows financial information based on planned, actual and remaining workload as well planned, actual and billable amounts for non-labor related costs. These values come from project tasks and costs, and are displayed according to a project’s work breakdown structure (WBS). These elements are also added up at the project level, and at the top level, including sub-projects.
This view is very useful in identifying time and costs that exceed the budget.
Cost tracking Charts & Dashboards
Geniusproject includes several standard graphs and dashboard used for tracking costs, such as "Costs by month" available in the "Dashboard & Charts" contextual navigation menu from the [Projects] tab.
"Budget by month"
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