One of the worst things that can happen to an ongoing project is a budget misstep. In the project management triangle of cost, scope, and time, it’s the cost that can sink a project or an entire business. However, NetSuite allows us to track a project’s costs to keep it from ballooning and putting your project at risk.
With Advanced Project Budgeting, we can help keep your costs down and productivity up and guide your project to finish on time and within budget. Through NetSuite’s tools and hierarchical structuring, we can help you take your Work Breakdown Structure (WBS) and assign monetary values to the individual tasks. Then, in fleshing out your WBS costs, we can help you estimate the total value for overall cost and, given enough information, your project earnings. Then, this can all be converted into a budget.
Maintaining a budget, as discussed above, is only one of the three points of the project management triad. The point of preserving oversight of a project’s budget is to ensure that you’re not being overcharged for work you can see that isn’t being done. It will also let you know if your scope is getting too broad. Looking at your Work Breakdown Structure’s costs can help keep the budget in check by ensuring the work that is being funded aligns with the overall scope of the project.
We’ve seen teams undertake a task that- while it would have been great for the end customer- was outside of the agreed-upon scope and would have added significant cost to an already large budget. An Advanced Project Budget specialist can help you keep surprise costs in check.
The Total Dynamics team specializes in the entire spectrum of NetSuite enterprise modules, ranging from Advanced Project Budgets and Advanced Revenue Management to Compliance, SuiteAnalytics, Planning & Budgeting, and Enterprise Resource Planning (ERP) implementation and development.
Contact us today to discuss how we can help your project succeed.