It’s an important question but one that even some of the programme delivery specialists find difficult to answer satisfactorily. Is it possible to start a project on solid budgetary footing? We think so.
At Verto, we believe costs and budget are integral to any project management framework. That’s why our system has been built up with a powerful tool that makes it easy to establish, analyse and manage your project budgets more effectively to ensure you always have the resources you need to deliver the very best to your clients and other stakeholders.
Manage the budget through the project lifecycle
The power of the Verto system is that we allow you to track both projected and actual costs throughout the project lifecycle. We have also included multiple gateways and stage touch-points so you can create more detailed – and more accurate – cost analysis. You’ll be able to plan your budget from beginning to end, all the way through the life of the project for better reporting.
Get accurate cost projections
Another key feature of the Verto system is the data lock capability on a project’s estimated costs.
Here’s how it works:
- You enter essential data about the size and scope of your project. This includes things like the how, what and when of each phase.
- Assign cost estimates to individual project management phases.
- Lock in those projected costs once the project is underway.
- As the project progresses, report the actual costs of each phase.
This integration lets you compare a project’s expected costs against what you’re actually spending. You will be able to see where you are under (or over) estimating and how you can make adjustments on future projects for better cost projections going forward. You can also analyse how your budget break-down for each step in the project management framework. This means you can carefully budget future projects for improved value.
Make it work your way
Our cloud-based project management software is fully customisable and keeps all your essential budgeting information in one easy to access system. Imagine it – no more juggling multiple spreadsheets or data sources. Everything you need to create incredibly detailed, personalised cost and budget reports kept in one place.
We also understand the importance of bringing people together, so we’ve included plenty of features that let you share and communicate budget items with everyone on the team. From chat and instant messages, project status notifications and alerts, calendar integration, document sharing, real-time project updates, audits and more, you’ll have your team and stakeholders completely in the loop and up-to-date from start to finish.
Effective budgeting is critical to project management methodologies. If you can’t track costs, you can’t allocate resources when and where you need them, and this can put the entire project at risk. The Verto system makes it easy to estimate, record and track spending in one convenient place.