Manage projects in terms of resources, associated usage & costs, customer billing and improve visibility of profitability
All projects have one thing in common – all have a start date and an end date, but are fundamentally different from regular, day-to-day, operational tasks. If your business model is project driven, that is, your revenue stream is dependent on providing services in fixed-time execution – Generally referred to as – The Project, then your business needs are also unique. They don’t align with the more traditional trading model.
Project based companies often have their resources – both, human (employees and/or contractors) and machines & equipment as their “product offering” or billable units. These resources are either offered on a time & material basis or as part of a fixed bid project offering. Due to its aggregate nature, it is difficult to quantify or estimate and hence as a result, difficult to price and to project profitability.
Usually, well qualified workers come at a premium and are in high demand as well, their optimum resource usage tracking is paramount. Efficient scheduling of their talent in multiple critical projects can be a winning formula.
Accurate projections of the workload, Budget vs. Actual (BvA), realizing milestones, and meeting customer needs at or under budget all leads to profitable execution of projects. In essence, how well you measure and track the usage and the associated cost of these resources and how effectively you bill them enhances your control of the execution of all phases of your projects.
Microsoft Dynamics NAV / Business Central offers you, in the form of Job Costing module, with the tools you need to more effectively manage projects and resources throughout the lifecycle of a project, including demand forecasting / budgeting and project management, scheduling and billing.