Project forecast (budgeting) and Project Financial Summary are very important for the group. The activities include resources allocation by working days, estimated supplier expenses and revenue.
When a project is initiated, project lead and development lead propose the best practice targeted implementation days and most suitable
resources.
By then the forecast is finalized, related project scope and cost data are interpreted into the fund raising contract per client’s requirement. I am notified at the same time.The involvement begin at integration of the financial and capacity data into group’s project forecast spreadsheet, which including estimated revenue, working hours and expenses etc.
When the project funding is settled and contract is counter signed, the estimated revenue is also
logged into another worksheet - Project Financial Summary, which the monthly billing revenue is being track from there.
This practice is a good combination of basic project management and finance management topics.
