As a PM, I can control project finance

Project managers, or any other management role (PMA, PMO, PfM, PgM), can control project finance at CONTROL > Control Finance, to control actual finance spent up to a review date:

If toggle [Actual/Forecast] is set to right, they can forecast finance status at the project closure:

Lets explain how to plan project finance using this example for finance baseline:

Each status date, users can control actual finance spent so far, and also the finance forecast status at the end of the project:

Comparing baseline to actual finance will be a top matter at project closing. This will show the final finance performance:

Let’s assume this accounting facts as of status date 2025-02-24:

  • Invoice #1 of 30k is submitted on 2025-02-24.
  • Invoice #2 of 13k is submitted on the same date.
  • Invoice #3 of 26k, Invoice #4 of 14k, Invoice #5 of 23k, Invoice #5 of 8k & Invoice #7 of 6k s submitted on the same date.
  • Software of 25k, 1.5k, 15k, 10k, 14k, 5k with no due date was bought 2025-02-24. On the same date, hardware of 2.04k was bought .
  • Management reserve used by 2k, 5k, 4k, 1k, 3k, 0.5k, 0.35k on date 2025-02-24.
  • Time and materials contract by 0.5k, 1k, 0.1k, 2k, 0.5k, are used by 0.56k up to 2018-02-28.
  • The internal team has been used by 1k up to 2018-02-28.

Project Manager, or any other manager role (PMA, PMO, PfM, PgM), can control project funding at CONTROL > Control finance:

Select the radio button [Actual/Forecast] to the left to manage actual finance.

In the example, we can see Direct Project Margin so far is 26k, calculated =120 (income) – 72(expenses) – 16 (reserves) – 6 (direct cost). Data can be entered in lower sections:

Let’s now see the finance forecast as of 2018-05-31. At this moment in the project, we can read these best estimates by the project manager:

  • Invoice #1 of 50k, due 2018-01-31, will be submitted 2018-06-30.
  • Invoice #2 of 50k, due 2018-03-31, will be submitted 2018-06-30.
  • Invoice #5 of 50k, due 2018-05-31, will be submitted 2018-09-30.
  • Invoice #6 of 400k, due 2018-06-30, will be submitted 2018-10-31 as 450k.
  • Travelling account, budgeted 75k, will increase up to 100k.
  • Internal cost, budgeted 225k, will be closed 2018-10-31 as 300k.

Select the radio button [Actual/Forecast] to the right to manage funding forecasts. In the example, we can see that the forecast for Direct Project Margin is $125k, calculated =1050 (income) – 375 (expenses) – 150 (reserves) – 400 (direct cost).