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Are you able to track the true profitability of the projects that your business delivers? If your business provides services that are delivered by multiple people or departments in your organization, you may not be charging enough. Estimating costs to cover salaries, sales time, travel time, and other hidden expenses may be eating up your profits without you realizing it.
Take the guesswork out of project costing with a systematic review of the projects that you have delivered. Evaluate how you should capture and assign actual costs to specific projects, including:
Project costing is a critical business management technique that most companies today need for at least a part of their business. A business management solution such as Dynamics ERP can help you manage projects and the expenses that go with them automatically. Give us a call and let us help you get a handle on project profitability.
Published on 7th February 2012 by Jeanne DeWitt.