Introducing Project Control - Finance

After completing this lesson, you will be able to:

After completing this lesson, you will be able to:

  • Introduce project control - finance

Introduction to Project Control - Finance


This process helps you to do the following:

  • Create Work Breakdown Structures (WBS) for hierarchical project accounting

  • Integrate efficient project execution with procurement and financial processes

  • Monitor project-related purchase requisitions and purchase orders

  • Receive live insight into project costs by comparing plan and actual costs as well as commitments

  • Integrate to asset accounting for investment projects

  • Leverage statistical project for analytical purposes

Key Process Steps Covered

The key process steps covered are as follows:

  • Create project
  • Predict and capture project costs
  • Capture project budget (optional)
  • Perform direct activity allocation
  • Post general journal entry
  • Perform requisitioning and service procurement
  • Record time
  • Monitor project

Learn how to work with the Project Financial Control scenario.

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