What is
a
Project Budgeting Template
? Project Budgeting input templates are considered detailed planning tools for project-based businesses and are used by project managers and budgeting executives to plan estimated revenues, expenses and profitability per project. Some key functionality in this type of budget form allows the user to enter any number of projects, associate them with a Project Type, and capture key metrics like hours, rates and start/end dates. Based on the Project Types, revenues and expenses are automatically associated with the applicable GL account number for the corporate budget. The model spreads the budgeted amounts across the active project months. The total revenues and expenses are compared to actual data from the prior year with a displayed variance. You will find an example of this type of budget form below.
Purpose of
Project Budgets Companies and organizations use Project Budgets to analyze profitability and other financial metrics for their projects. When used as part of good business practices in a Project Management Office and Budgeting Department, a company can improve its resource planning and profit margins as well as reduce the risk of capacity problems.
Project Budget
Example Here is an example of a detailed Project Budgeting Form for revenue and expense planning. [caption id="" align="alignnone" width="1775"]
Project Budgeting Template Example[/caption] You can find hundreds of additional examples
here.
Who Uses This Type of
Budget Form
? The typical users of this type of budget form are: Project Managers and Planning Executives.
Other
Budget Form
s Often Used in Conjunction with
Project Budgets Progressive Project Management Office and Budgeting Departments sometimes use several different Project Budgets, along with payroll, capital expense and profit & loss budget forms, project reports, project dashboards, and other management and control tools.
Where Does the Data for Analysis Originate From? The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Netsuite and others. In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.
What Tools are Typically used for Reporting, Planning and Dashboards? Examples of business software used with the data and ERPs mentioned above are:
Project Budgeting Template Example[/caption] You can find hundreds of additional examples
here.
Who Uses This Type of
Budget Form
? The typical users of this type of budget form are: Project Managers and Planning Executives.
Other
Budget Form
s Often Used in Conjunction with
Project Budgets Progressive Project Management Office and Budgeting Departments sometimes use several different Project Budgets, along with payroll, capital expense and profit & loss budget forms, project reports, project dashboards, and other management and control tools.
Where Does the Data for Analysis Originate From? The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Netsuite and others. In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.
What Tools are Typically used for Reporting, Planning and Dashboards? Examples of business software used with the data and ERPs mentioned above are:
- Native ERP report writers and query tools
- Spreadsheets (for example Microsoft Excel)
- Corporate Performance Management (CPM) tools (for example Solver)
- Dashboards (for example Microsoft Power BI and Tableau)
- View 100’s of reporting, consolidations, planning, budgeting, forecasting and dashboard examples here
- Discover how the Solver CPM solution delivers financial and operational reporting
- Discover how the Solver CPM solution delivers planning, budgeting and forecasting
- Watch demo videos of reporting, planning and dashboards
July 1, 2020
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