Manage projects in terms of resources, associated usage & costs, customer billing, and improve visibility of profitability.
All projects share a common trait: they have a start date and an end date. However, they are fundamentally different from regular, day-to-day operational tasks. If your business model is project-driven, meaning your revenue stream depends on providing services within a fixed timeframe—generally referred to as “The Project”—then your business needs are unique and do not align with the traditional trading model.
Project-based companies often consider their resources—both human (employees and contractors) and machines & equipment—as their “product offering” or billable units. These resources are offered either on a time & material basis or as part of a fixed-bid project. Due to the aggregate nature of these resources, it is challenging to quantify, estimate, price, and project profitability accurately.
Highly qualified workers usually come at a premium and are in high demand, making optimal resource usage tracking crucial. Efficiently scheduling their talent across multiple critical projects can be a winning formula.
Accurate workload projections, Budget vs. Actual (BvA) comparisons, milestone realizations, and meeting customer needs at or under budget all contribute to the profitable execution of projects. Essentially, how well you measure and track the usage and associated costs of these resources, and how effectively you bill them, enhances your control over the execution of all project phases.
Microsoft Dynamics NAV / Business Central offers you the tools you need to manage projects and resources more effectively throughout the project lifecycle. This includes demand forecasting, budgeting, project management, scheduling, and billing through the Job Costing module.