IC Project offers full management of project budget. Before you start a specific project, create an advanced financial forecast. Plan the costs and run a project revenue forecast. You can compare your estimates with actual results at a later stage.
Let’s start from the beginning. Look at the image below.
We have created a new sales project where we have one stage “Organization of work” and “Documentation” and four task boards that are sales funnels of individual months.
Let’s plan the project budget
Let’s create a financial forecast of a project, estimating costs and planned revenues. This way we will plan the budget for the entire project.
In the columns Estimated cost and Planned revenue, you will see “dotted” digits, e.g.: . These digits are edited manually. Click the digit to enter its value with your keyboard. The system will automatically calculate and sum all values up. The summary can be found also at the bottom of the financial structure.
Example.
For the sales funnel – Development topics we will set the estimated cost at PLN 3000 and the planned revenue at PLN 15 000.
This way we receive the budget plan. It may result from, e.g., a contract / agreement with your contractor. On that basis, we will determine the amounts (costs and revenues) we can expect at every project stage.
This way we receive the budget plan. It may result from, e.g., a contract / agreement with your contractor. On that basis, we will determine the amounts (costs and revenues) we can expect at every project stage.
The financial result in IC Project is affected by two columns – planned revenue and realised cost.
Realised revenue – Realised cost = Financial result
Realised revenue results from the invoices issued to your contract or revenue added manually in the selected project.
The realised cost comprises:
- Costs resulting from the reported worktime. If the given employee has an assigned hourly rate and reports worktime, the system will recognise it as realised cost. It will affect the financial result of the project.
- External costs, i.e. costs incurred in the developed project, e.g. service costs, purchase of materials, internal costs, etc.
The stage of project execution will surely bring the first costs and revenues. When they are added to the project, the system calculates the project result automatically.
We will explain the process of adding costs and revenues to the project in the next step.
