Cost Management In Unifier – End to End Overview
Cost management is the key to success for any organization, hence, therefore, every organization would like to use those Project Management tools having precise
andreal-time cost management functionalities.
Well, and not discuss the common feature of P6 & Unifier like WBS cost, baseline, Earn value, etc
In my view, the thing which makes Unifier superior to P6 is the way of cost management in Unifier. It is far better than P6. P6 does have cost management functionalities, but it is very limited which is not sufficient to provide an accurate and real-time picture of any organization financial project portfolio status. On the other hand, Unifier provides such functionalities which are helpful to understand the real-time cash flow of any organization.
For example, P6 has limitations in capturing the Inventory cost, expense under approval, depreciation values of assets, lease values, real-time cash flow and more. Unifier is providing the solution for such limitations of P6 as it has capabilities like Integrated cost management, capturing dynamic expense, expenses under workflow approval and many more.
Integrated Fund Management takes Unifier next level of cost management solution, especially for public sector organization. By Linking BP workflow with cost sheet and fund sheet provides you real-time status of potential expense as well. Unlike P6, Unifier can handle multiple currencies transaction in the single project which makes it suitable for MNCs.
Well, there is a lot to discuss about Unifier cost management, which I will try cover in my later posts. In this post, I would like to give the end to end overview of cost management in Unifier.
Being a Unifier Consultant, the following are the major tasks for which you may be responsible.
1. You need to design and deploy the cost attribute form as per client business requirement.
Sample Cost Attribute Form
2. You need to configure the permissions at End User level, Maintain Permission at group level is better way to manage it I.e. Project Manager, Account Manager Project Cost Controller are the some example of groups
Define Specific Permissions for each user based on his role in business transaction.
3. You need to create a various cost management template like cost sheet template, Worksheet, Cash flow template and many more.
Sample Cost Sheet Template: Project Cost sheet is only created by template, so you need to create it first for cost manager module setup.
Sample Fund Sheet Template
SOV Template:Required for PO and Contract BPs (Base commit BPs)
4. You need to create a project cost sheet for Project team user’s transactions
5. Define the project budget: Once the estimation is done, you have locked the budget.
Apart from above major tasks, you may also need to build some optional cost management components depends upon client to client, project to project.
1. For capturing complex calculation, you may create worksheets which will be supporting Project cost sheet.
2. For different different, you may create separates work packages for better cost analysis
3. For strategies and capital planning, you may create program & company level cost sheet and Cash Flow
4. Company Level Cost Sheet:Summarised overview rolled up cost from each project.
5. As per your client nature of business, you have designed and deploy all the various cost business processes
6. Generally, public sector clients like to management fund, hence ask you to create and integrate fund sheet with cost sheet.
7. If client is releasing PO to vendor from Unifier, then you may need to set SOV (Schedule of Values)
And some more useful features you may need to design and setup depends on your client requirements.
Cost Management is my favorite in Unifier, but it is not possible to explain all the Unifier cost management functionalities in a single post. Hence I will write the series of posts dedicated to Unifier Cost Management to explain some best cost related functionalities of Unifier.
As I come from core Project Planning background hence I understand the significance of cash flow and Budget for any organization. Please let me know if you guys are interested to read the post on below cost control functionalities in Unifier.
How to create real-time cash flow curves in Unifier.
How to integrate Fund sheet with cost sheet in Unifier.
How to define Budget in Unifier.
How to raise invoice against PO/Contract in Unifier.
How to create forecast in Unifier.
How to Integrate P6 schedule with Unifier CBS.
How Cost Transactions Work in Unifier.
Even, I will suggest, please go through the different blogs to find some stuff on cost management in Unifier.