Are you leaking profit every time someone touches a project?
How Does it work?
The primary challenge of project management is to achieve all the deliverables and objectives while honoring the preconceived project constraints all the while keeping an eye on the budget. Most Project Management Offices (PMOs) are good at reaching milestones and task management, but quite often the job cost of the project is not accessible to them in any manner where they can change the course of the job. When looking at the constraints of a project; scope, time and budget it is often the latter that is sacrificed to make the others work.
Quite often the true costs of a job aren’t understood until well after the work is done if it’s done at all.
Stand alone systems are good at reporting after the fact but only a centralized, single platform can provide you with real-time visibility to see not only if tasks are being done on time, but also at what cost. Is a project actually making or losing money is important to know as the project is being executed so the project managers can react to situations and circumstances to affect the outcome.
With Q360™ Project Management you have not only complete control over the task management, you have real-time visibility into the financial side of the job. Project Managers can plan the delivery of materials so money is not being tied up in material sitting on a job site for weeks. Purchasers have line of sight into material requests across all jobs so they can optimize purchasing power with vendors. As technical staff work on a project their hours are registered from the field and posted against the job daily and time is fully burdened providing you with accurate job costing. The PMO or site Supervisors have a feedback loop to see how they are doing against budget any time the want. This allows the right people to take corrective action against jobs where profit is leaking.
Job Costing & Time Management
Job costing is critical for service companies providing new installation services and project management.
Tracking all the costs, comparing to estimates and altering course when elements of a project change is critical to success and profitability. Tracking job costs accurately and timely allows you to quickly discern your most and least profitable areas of your business.