Cost Management for Microsoft Project Server

Microsoft Project Server 2010 provides numerous innovative capabilities across the entire lifecycle of projects to help organizations effectively initiate, select, plan and deliver projects on time and within budget.  It is the perfect tool for managing projects within an organization.  To take a quick look at the top 10 benefits of Project Server, click here.

Now more than ever, organizations are facing the need to tighten their controls over portfolio spending in order to increase their ROI and ensure maximum value to the business.  You’ve heard over and over again the concept of doing more with less, but where do you begin in truly realizing the benefit?  Understanding what needs to be done and where to begin is the first step; however, having the proper tools in place will take you even farther.  So how do you combine the power of Microsoft Project Server and it’s leading project and portfolio management capabilities with the comprehensive financial best practices of a leading cost management technology provider?  WorkEngine announced today its launch of CostEngine, a Project Web App add in that seamlessly extends the Microsoft Project Server solution to enable full cost management controls such as cost categorization, scenario modeling, cost rollups, cost analytics and forecasting.  CostEngine for Microsoft Project Server includes the following capabilities:

  • Full integration with Microsoft Project Server ribbon controls- view
  • Cost visibility across multiple portfolios- view
  • Cost planner with flexible cost category structure- view
  • Cost impact analyzer- view
  • What-if modeler- view
CostEngine gives organizations the tools they need to track ROI by giving them the visibility into both project and portfolio expenditure. With CostEngine’s flexible cost category structure, all cost items can be categorized and accounted for to result in more accurate cost plans and cost forecasts. These cost plans can then be tracked throughout execution to provide valuable insight into cost comparisons including planned costs, forecasts and project actuals. CostEngine aids organizations in greater cost transparency, project control and overall portfolio health.
As with all WorkEngine products, CostEngine leverages a simple, easy-to-use user interface including spreadsheet-like web grids and a complete integration with Microsoft’s PWA ribbon controls.CostEngine promotes better decision making as organizations today are faced with rapidly changing environments; their response to these changes are crucial.  It is critical for management to understand comparisons of quantity and cost value totals for selected projects against targets as well as the effects of cancelling a project or work effort, delaying or advancing it, or the effect of stretching out its duration (thus decreasing the rate of spend).

So as you can see, doing more with less and properly planning and tracking all expenditures is now easier than ever.  To learn more about CostEngine, visit the website by clicking here.