Take Control of Your Projects Using Dynamics SL

Posted by Jen Bieker on April 29, 2016

For most organizations projects are constantly changing entities with many moving parts, such as, approvals, changes, resources, etc.  For a project based business, it’s crucial to track the changes throughout the life of a project.  Even more important is the ability to measure what is actually happening against the original plan (baseline) to see the differences.  This helps manage profitability and learn so we can adjust for future projects. 

The Dynamics SL Project Budgeting tools can help you do all of these things.

Budget Tracking:

Things don’t always go as planned with projects. Budgets often need to be adjusted. That makes it particularly difficult to keep up with your estimate-at-completion (EAC), forecast-at-completion (FAC), margin percentages, and net profit.  The following budget items help you easily track this information:

  • Original Budget
  • Estimate Budgets:  Estimate at Completion (EAC) & Estimate to Completion (ETC)
  • Forecast Budgets:   Forecast at Completion (FAC) & Forecast to Completion (FTC)

Original Budget:  is just that – the budget at the beginning of a project.  However, it does not normally include things that come up during a project; such as, cost overages, labor overtime, express shipping fees, and other variables that arise suddenly during a project.

Estimate at Completion (EAC):  at the beginning, this budget matches the original budget.  However, this is where the project accountant can update the budget with the real-life situation – change orders, costs increases, unexpected expenses, etc.

Estimate to Complete (ETC):  is the EAC minus project-to-date expenditures. 

Forecast at Completion (FAC):  is used more by a project manager rather than a project accountant.  Here the project manager enters in information representing physical, real-world terms which are not always monetary based items.  For example, the project manager might estimate half of the work is completed and there is half yet to go.

Forecast to Complete (FTC):  is the FAC minus project-to-date expenditures.  These might include unposted timecards, subcontracts, and open purchase orders.


Entering & Viewing Project Data:

Most often, information is entered against the project through one of the maintenance windows.  This data then populates your SL queries and reports.

Maintenance screens:  there is a maintenance window for Estimates and another for Forecasts.  These screens usually contain 2 grids in them.  The top grid displays actual and budgeted information for the project, whereas the lower grid displays calculations such as revenue, cost, and net.

Reporting on and viewing project information is a breeze with Dynamics SL.  Pull any of the project data into your reports, Microsoft Excel, or business intelligence solutions, like BI360.

Join Crestwood to learn more about project budgeting tools in Dynamics SL at our upcoming webinar on Tuesday, May 17, 2016 from 11:00AM – Noon (CDT).  Register Here! 

For further information, contact us at Marketing@Crestwood.com.

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