Projectmates construction project management software's budget tool provides the ability to link your estimated, committed, anticipated, and actual costs to your project's scheduled work breakdown structure, allowing you to track your costs throughout the project's lifecycle. Projectmates cost management tool is flexible, allowing you to track your costs by a specified group/category, cost accounts, funding sources, or WBS, and calculate subtotals automatically. Projectmates will red flag commitments that are over budget.
The budget is designed to capture all financial aspects of the project. Costs are automatically updated as Contracts, Change Orders, Purchase Orders, and Invoices are created in Projectmates, and are tracked as separate columns in the budget. Cost and invoice totals are also automatically calculated Key Performance Indicators (KPIs) are displayed if any potential problems arise, such as commitments that are exceeding your original budget.
To view the Budget
- Open the project by clicking its name from the My Projects screen.
- Click Cost Tracking (sometimes also referred to as Contract Mgmt) on the left-hand menu.
- Expand the Budget menu
- Click the desired budget thread to expand it.
- View the Budget tab on the right-hand side to see the project's budget outlined.
Helpful Hint: Click the Cost or Variance tabs to see valuable data as you track contracts, change orders, and invoices for the project.