Project Financials

MANAGE THE COMPLEX FINANCIAL DIMENSIONS

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PROJECT FINANCIALS

ALL FINANCIAL ACTIVITIES REVOLVE AROUND THE COST BREAKDOWN STRUCTURE

A project’s lifecycle typically spans several reporting periods additionally, complex cost structures, frequent scope changes and an array of different contract types and billing rules are all critical elements for the project controller to manage. To do this effectively a unique set of tools is required to support critical processes starting with the initial estimation, through budget and change management to periodic budget reviews, revenue recognition and monthly billing cycles.

Adeaca One Financials enables the project centric enterprise to effectively manage the complex financial dimensions of its customer-facing business, all within the core financial application.

Increased visibility, fully auditable transaction trail and real-time data availability enables stakeholders to make timely and informed decisions with confidence ultimately resulting in increased project profitability.


Flexible cost breakdown structures

All financial activities revolve around the Cost Breakdown Structure (CBS). The CBS is a multi-level hierarchy that enables you to analyze financial project performance at any level of detail including drill-down to source transactions. Due to the complete integration with all backend ERP functions data is always available in real-time.

The CBS provides a full financial summary of the project including; budgets, estimates, actuals, commitments, variances and progress indicators.

Budget management

All budget positions are processed within dedicated budget versions against the cost breakdown structure. Budget versions are subject to approval and captures cost and revenue estimates as well as cash-flow projections.

You may establish project budgets using the build-in templates and formula driven estimation tools or via XML interface to external estimation tools. Changes to the original budget are processed as revisions, change orders or transfers. A full audit trail of all budget versions is of course available. 

Cost and revenue budgets aside budget versions also entails estimation of deliverables, contingencies and undistributed budgets for rolling-wave planning.

Project costing

The periodic budget review process is at the center of establishing up-to-date reliable project performance projections. Early detection is key to effective project cost control, by periodically evaluating Cost to Complete (CTC) and Estimate at Completion (EAC) controllers are able to predict and record variances before they materialize and in time to take corrective action.

The budget review process also computes updated expectations to project margins and productivity ratios against project deliverables. Project costing is period specific and a full history of past periods is stored for future reference and trend analysis.

The time-phased data contained within the costing sheet feeds multiple critical processes including revenue recognition, Earned Value Analytics, portfolio dashboards and the all-important month-end process.

Features

Advanced planning & estimation, budget & change management, and financial performance reporting


  • Cost Breakdown Structure (CBS)
  • Estimation tools
  • Delivery projection
  • Cash-flow management
  • Pipeline management
  • Rolling wave planning
  • Budget contingency
  • Cost to complete / Estimate at completion
  • Cost to complete change control
  • Cost, revenue and variance analysis
  • Project deliverables and productivity analysis
  • Time-phasing of cost to complete estimates
  • Budget period control & trend analysis
  • Project hierarchy costing

Benefits

  • Predict and prevent budget overruns
  • Achieve real-time insight into project financial performance
  • Quick creation of baseline budgets via templates and estimation tools
  • Analyze project performance trends
  • Structure and optimize the month-end process
  • Full audit trail and transaction drill-down
  • Simplify revenue recognition and increase accuracy of accrual postings
  • Eliminate manual data translation between point solutions
  • Increase transparency and reliability of project metrics and KPIs
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