Being “on budget” is considered one of the core success factors of project management so it follows that budget management is a critical element of any programme management process.
But budgets change and you need to manage that change through a flexible process that retains the original budget as well a building forecast to complete the project. KeyedIn® Projects allows you to build budgets and forecasts at any level within your project hierarchy. Regardless of your choice, you can roll-up the forecast from the lowest level, even build a forecast for detailed task-based planning, and create the higher-level forecasts for executive oversight. Whichever process you adopt for your programme, KeyedIn Projects helps build the information at the level you need to keep a tight rein over the budget.
Build enterprise-level forecasts
KeyedIn Projects enables you to enter forecasts at any level in your project hierarchy, including programme and portfolio levels to reduce the planning workload whilst maintaining tight control at a higher level. You can build forecasts over any timeframe, in weeks or months, using grid-style entry for role-based resource plans and expense type expenditure.
Roll-up execution-level forecasts
If you want to plan at a lower level, forecasts can be rolled up from detailed project plans or individual project forecasts to programme level and then on to portfolio level, under management control.
Approve forecasts for analysis
Multiple versions of a forecast can be maintained but only one live, approved version of the forecast is used for financial analysis and capacity planning at any time. The live version can be compared with earlier versions or baselined versions to identify differences and trends and comparison with the original budget.
Baseline forecasts for budget control
A version of the forecast can be baselined to prevent further changes and to ensure the version is not deleted. The baselined version can be used to provide budget comparison as well as forecast.
Analyse budget performance
Using forecast versions for a budget baseline, live forecasts and actuals you can easily compare budgets, actuals and forecast in graphical and tabular format, by value and effort.
With the appropriate authority, the forecast wizard tools enable you to maintain forecasts in line with project progress and changes in demand; you can delay or push forward the entire forecast or a specific section in a couple of clicks, as well as adding or removing demand and changing cost rates.