TenForce – Pragmatic Project Management

Budget Management

Challenges

Capture Mandays, Costs, Income and/or Savings

A budget typically needs to be drawn up in terms of mandays and the other costs. Besides the costs, also the expected income or savings need to be made visible and tracked. Organizations are not always able to standardize this process. Typically, costs, income and savings are measured in different ways. If there is a standard project business case template, it is interpreted differently by the respective project managers or business owners.

Difficult consolidation

As a result, the budget information is difficult to consolidate into financial systems. A variety of formats like spreadsheets, MS Project files, financial or accounting systems are used. Often it is not feasible to repeat this process more than once per year. Rather the process is only initiated a few months or weeks before the end of the previous fiscal year. In stead of being a strategic tool, business managers merely create a new version of last year’s budget.

Failing budget management process

The outcome of the budget management process typically fails to deliver value. The planned budget and actuals not consolidated to support adequate management decisions. Moreover, it is impossible to assess budgetary impact of shifts in the workload.

Features

• Supports Budget draw up, control & follow up
• Budget draw up & High Level Plans.
• Supports negotiation cycles
• Based on Workspace
• Integrates with SAP, Oracle, Peoplesoft, Navision and any other ERP or accounting system
• Control, follow up & what if analysis
• Continuous budget capacity evaluation: Project delayed by 6 months, delaying or forwarding investment.