Budget is a financial baseline for the project, providing guidelines for how to use funds as well as standards for measuring results. With 4PM, you have all the tools you need to successfully plan and monitor your project's finances - all in 1 point.
Budgeting activities are flexible and adapt to your existing procedures and reporting requirements: cost types, periods, work packages, project programme planning.
The ability to track and monitor costs is essential for measuring project performance against the budget and evaluate project's health.
Various project costs and revenues can be entered to 4PM and subsequently assign them to cost types, as they accumulate through the project's lifecyle (multi-currency capabilities are present). Financial data can also be automatically imported from any ERP system (web service) and exported to Excel.
Personnel costs are calculated automatically from each reported hour on project and hourly rate of individual.
4PM offers multiple overviews which provide insight into financial performance. These help you compare accumulated costs against the original plan, empowering managers to identify troubled areas and make important tradeoff and reallocation decisions.
Project Cash Flow
Project manager can announce project cost and revenues and link them to project activities.
Hourly rate management & Personnel Costs
Rate management is a key feature of 4PM. For each user, you can assign
- a single hourly rate for all the projects,
- various hourly rates for different project groups, or
- project specific hourly rates.
Project finance planning, monitoring, finance reporting and analysing is no longer time-consuming business
- Flexible financial planning
- Cost plan, expenses and incomes all in one place