AXtension® Project Cost Control

 

Successfully controlling costs and keeping a project within budget both have a huge influence on its profitability and its customer satisfaction level. A contractor’s profit margin is greatly reduced if he is not able to respond to budget overrun in a timely manner. To prevent this from happening, the need for efficient forecasting and budgeting methods like earned value management are crucial. Simplifying progress reporting and tracking costs easily against dedicated cost codes are necessary for success.

 

 

 

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AXtension® Project Cost Control introduction video

 

AXtension® Project Cost Control provides real insight and offers the opportunity and ability to act quickly and make changes as and when necessary. This allows you to be truly in control during the entire project lifecycle and able to make much better management decisions that immediately result in better business results and more satisfied customers.

 

 


 

Top 5 reasons why every project based organization should use AXtension® Project Cost Control:

  • Comply with the industry standard and requirements for Earned Value Management.

 

 

  • Simplify and increase the accuracy of progress reporting by changing the aggregation level and the unit in which progress and estimates are managed.
  • Specify a cost reporting structure that aligns to your needs without frustrating the business and report back on this cost hierarchy.

 

  • Manage the budget for a program existing out of multiple projects by linking multiple projects to a single budget.
  • Optimize audits by keeping track of all budget versions, mutations and adjustments and know exactly who did what, when and why.
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Cost Breakdown Structure

 

Separate structure for cost reporting and progress reporting.

 

This project budgeting structure allows the structure of budget lines to differ from the work breakdown structure. Managing the budget progress and reporting the status are executable on any of these cost breakdown structure levels.

 

 

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Link CBS to WBS

 

Link the nodes of your work breakdown structure to cost breakdown structure nodes.

 

Link a cost breakdown structure to multiple work breakdown nodes and link a work breakdown node to a single cost breakdown structure node.

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Period Breakdown

 

Split a single budget to multiple periods to define the planned value per period.

 

Each budget line will be broken down to the number of periods defined. Manually or automatically, the budget is distributable across these multiple periods, allowing you to compare both actual costs and earned value to the planned value to date.

 

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Cost Control Reporting

 

Create periodic control reports that will show the status of your project to date and allow setting out corrective actions.

 

Periodically create a cost control report, either manually or via a batch job. This report shows a complete overview on project status with full drill-down capabilities to the transactions or records.

Increase productivity and reporting accuracy

 

Indirect Costs

 

Assign one or multiple indirect cost groups to a budget and apply them to all or a selection of budget lines.

 

Indirect costs are applicable to a budget, which will automatically calculate a percentage or an amount applied to either all or a selection of the budget lines.

 

Progress & Estimate Reporting

 

Create periodic reports in which you can report your progress and estimation to complete.

 

Periodically create a cost control report, either manually or via a batch job. This report has to be completed with estimated progress per costing structure level, specified and posted when done.

Master project budget management

 

Multi Project Budgets

 

A project independent budget with potential linking to one or multiple project.

 

Budget Adjustments & Mutations

 

Set out corrective actions and keep track of budget adjustments or mutate existing budget lines.

 

 

 

Earned Value Management

 

Calculate Earned Value to compare actual cost and planned value for a CPI and SPI.

 

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T: +31(0)77 323 2622

E: info@axtension.com 

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