Project costs in MS Project
Many, many times we see that where project timing and resourcing is kept in MS Project and project finances are kept in Excel. Using the financial governance capacilities in MS project is often an unexploited area. This is waste, because only adding rates to resources will already bring you half way. MS Project can calculate anything for you directly from your schedule.
The trick here is also to keep the right balance between the amount of input and getting valuable output. Remember MS Project is not meant to be accounting software, MS Project is a modeling tool which should deliberately simplify the reality. Accountants cannot permit to simplify. Neither will it serve as an invoicing system.
To learn everything about Cost Management in MS Project follow our e-course. You will learn how to enter a project budget for main cost types, compare planned cost against actual cost. Predict eventual cost at project complete based on actual progress, provide burn-down charts and earned value metrics to qualify the projects’ performance. All the things required to be able to perform quality cost control.
For more information about the content of the course Cost Management in MS Project click HERE.