Project Cost Control from Axtension
AXtension Project Cost Control is a powerful Microsoft Dynamics AX add-on that enables Project Managers and Project Controllers, working in environments with large critical projects, to see the budget, cost registrations, project progress and estimates at a single glance, in one dashboard with drilldown capabilities. This allows them to be truly in control during the entire project lifecycle.
Successfully controlling costs and keeping a project within budget both have a huge influence on its profitability and the level of customer satisfaction. A contractor’s profit margins are greatly reduced if they are not able to respond to budget issues in a timely manner during the project lifecycle. Furthermore, there is more and more emphasis on the use of the world’s scarce resources. All of these factors increase the need for efficient forecasting and budgeting methods, plus the ability to control costs and quickly respond to potential issues. Controlling costs is a very important part of managing a project.
The financial control of high risk projects requires on the one hand the integration of processes like budgeting, purchasing and registering cost transactions, and on the other hand progress estimations and project reporting. This provides real insight and offers the opportunity and ability to act quickly and make changes if necessary.
Why use Project Cost Control
- Ability to stay within budget and make better management decisions.
- Control during the entire project lifecycle.
- One single screen and one single point of truth.
- Management by exception.
- Easy progress handling.
- Flexibility in set up, reporting and addition of different contract variations.
- Ability to set up budgets in a separate Cost Breakdown Structure.
- Reduced manual input.
- No need to control software and spreadsheets outside Dynamics AX.