Financial Management Example

Organization

DOD - Army

The Problem

Tracking financial budgets, purchases and contract expenditures within a Project Manager (PM) Office.

The Soution

Create a web-based solution that would allow the PM to track project budgets, actual expenditures and in-house purchases against internal operational funding, as well as related project costs for services and parts. Primary functionality includes: 

• Project Management Including Project Budgets, Actuals, and Variance
• In-House Operational Costs including Budgets, Approval, Expenditures, and Balances
• Purchasing Including Requisition, Approvals, and Direct Links to In-House/Project Related Costs
• Contract Management
• Executive Summary Reports

Benefits

• Real-time data access to all business management expenditures relative to financials
• Decreased administrative costs by reducing redundancy and manual efforts
• Automated alerts of project or contract funding requiring renewal or funding adjustment based on alert levels defined by the PM
• Complete PM Office financial visibility of all revenue coming in and out of the organization