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These projects can be for external customers, such as:
Or, these projects can be for internal purposes, as in capital projects, which may include:
When your business is project oriented, your processes and systems should be centered around that. Only with a project-centric approach can you create the most effective framework for success.
Most projects are missing this focus on project business. You won’t fully succeed until you reclaim this focus set your company on this path.
Projects are an important part of your business but an after-thought of your business system. Project businesses typically employ an ERP to manage key parts of their business. However, the core project components are managed outside the ERP and cut off from the rest of the business processes.
Instead of an integrated and efficient business environment, you end up with a disjointed landscape that fuels delays and errors. This lack of project business focus manifests in many ways. Learn more about typical project business problems that you may be facing as well.
Project driven companies spend too much time translating, consolidating, and validating data from the myriad of point solutions they employ to manage their project operations. The solution is to manage your project schedule inside your business system.
Your project schedule is about project execution. Your ERP is about business execution. You must combine them to optimize your project-based business execution.
With the Softnext Solutions Pvt Ltd Project Modeler your project plans are created faster and with more accuracy than ever before. Gain speed and control. Enhance your sales process by creating the best operational plan from the start.
There are two basic types of costs in every project.
Direct costs are the materials, space or subcontractors used for a project and have an explicit cost you can allocate to the project.
In the form of labor, machinery or other resources, the main factor used in calculating the cost is time.
Many treat these costs differently simply because they may be tracked or managed in different systems. You need to bring all these together, so you get a holistic view of your entire project costs. From there you can manage the financial aspects of your projects more effectively.
Typically, most create a project budget and then track actuals as the project progress. However, they do not consistently compute EAC and Cost-to Complete (CTC). While comparing BAC to actuals will give you variance from the original budget, you will not be able to reassess how the project is actually expected to finish.
By periodically evaluating CTC and EAC, controllers can predict and record variances before they materialize and in time to take corrective action. It is also crucial in spotting trends and making mid-project corrections.
As part of Softnext Solutions Pvt Ltd Project Business Automation, Project Autopilot monitors all your projects in real-time and automatically notifies you if anything is out of the norm.
This Quick Guide to Project Business Automation will help you understand PBA and how it applies to your business. What you will learn:
If a crucial part of your business is about running projects successfully, you need this guide.
Gather and organize your project data so you can analyze it for risk in real-time. Always understand your cost and scheduling KPIs and where your project stands.
Beyond manual gateway reviews, systemize the analysis of your projects. Measure performance in real-time against critical thresholds you determine.
Present actionable intelligence to the right people the instant a problem occurs. You can pinpoint the issue quickly and resolve it before it becomes a major problem.
As part of Softnext Solutions Pvt Ltd Project Business Automation, Project Autopilot monitors all your projects in real-time and automatically notifies you if anything is out of the norm.
The right approach to project estimating and planning will optimize your project sales process.
To achieve the project sales capabilities above key elements are required.
Your sales estimating process needs to be standardized around best practices. Every project is unique, but you have standard ways to develop those projects. Everyone should do it the best way, every time.
Project schedules and estimates are inextricably linked. Once you create the plan, the cost and pricing automatically follow. You should know exactly the cost for every workflow item in the schedule automatically.
Capture your planning and estimating best practices and apply them across the organization. Scale and automate best practices through a system built for project business.
Most companies find gathering the required data and calculating earned value on their projects difficult. It should be easy and automatic, an integrated way in which you manage your business.
Earned Value Analysis (EVA) is difficult if you are trying to manually gather data form multiple disparate systems in Excel to do it.
The solution is to create a system that brings all the data together seamless and automatically calculates your EVA in real-time.
The point of Earned Value Management is to answer three basic questions.
To answer these questions, you need these earned value fundamentals easily and consistently calculated.
Softnext Solutions Pvt Ltd provides these insights automatically as part of Softnext Solutions Pvt Ltd PBA.
Your projects may require different types of billing and earning principles. You need support for time and material, fixed price, or installments based on milestones or percent complete.
The period close framework allows companies to setup mandatory risk reviews and checklists to complete before a project is closed off for the month. This enables you to apply a standardized and consistent month-end process across the enterprise yielding comparable and trustworthy accounting KPIs.
Eliminate the need for spreadsheets and standalone project accounting software to financially manage your portfolio of projects.
