Project Management and Planning
Vantagepoint enables you to proactively manage and deliver successful projects. The Projects hub is your command center: it places your projects and clients at the center of your business so you can manage all aspects of your portfolio of projects from a single area.
Vantagepoint delivers complete visibility into every aspect of your project in one central Projects hub from initial pursuit through closeout. You can monitor project performance to avoid schedule and cost overruns; identify potential risks and make adjustments; collaborate across the entire project team; expedite invoices and deliver successful projects.
In the Projects hub, which is a component of the Accounting module, you can do the following:
- Enter and manage the basic information for each of your enterprise's projects, including projects that you are pursuing but have not yet won.
- Enter service estimates, budgets, and contract information.
- Select the right people for the right projects based on availability, skills, and experience to minimize burnout and deliver successful results.
- Enter planning information for labor, units, expenses, and consultants.
- Forecast revenue.
- Establish billing terms.
- Review, approve, and track client invoices.
- Evaluate actual performance against project plans, contracts, and budgets.
- Collaborate with your project teams through conversations, tasks, shared files, and events to ensure you are delivering projects on time and on budget
- Get the right information in front of the right people and react quickly to correct issues and accommodate project challenges before they have a material impact on project profitability.
- Related Topics:
- Projects Hub Applications
The Projects hub is the command center for managing your entire project lifecycle. - Planning a Work Breakdown Structure
A work breakdown structure (WBS) divides each of your projects into distinct, manageable work elements in a way that balances management requirements with the need to collect an appropriate and effective level of project data. - Using the Project Planning Application
On the Plan form in the Projects hub, you can assign employees and generic labor resources, expense types, and consultant types to projects, and schedule those assignments. You can also enter planned hours for labor resources and planned monetary amounts for expenses and consultants. You can enter project planning information not only for won projects but also for projects you are pursuing, so planning can begin even before the contract is awarded and can be carried forward seamlessly when you win the job. - Using the Revenue Forecast Application
Forecasting revenue is a key part of the monthly process for project managers, business managers and controllers in professional service companies. - Project Management and Accounting
Project management applications and accounting applications are fully integrated. Accounting transactions affect both the general ledger and your project information. Your accounting and project records are always synchronized. - Labor and Expense Charges
After you enter project and employee information in the Vantagepoint hubs, you can begin processing project-related labor and expense transactions. - Project Budgeting
To get the most out of Vantagepoint project management capabilities, you should use the Budget application to establish budgets for your project's key components, including labor, expense, and overhead, and then periodically enter percent completes to reflect the project's current level of completion. - Project Reporting
Vantagepoint offers a variety of summary and detailed reports designed specifically for project management.
Parent Topic: Concepts