Project success often hinges to the ability to manage change and control costs. Immediate risks of late and/or inaccurate reporting through the inefficient process of collecting project data separately from procurement, planning and accounting, then combining and processing the data in spreadsheets. The same risks hold for the software integrator. Despite varying levels of integration efficiency, the database-to-database links create weaknesses, with a revision or a failure in any linked program jeopardizing the whole. On a strategic level, performing project cost control using ERP systems is innately risky. There is a fundamental difference between operating a company, which is long-term and strategic in nature, and running a project, which is short-term and extensive in detail. The ERP “shoe does not fit all”.
One of the central benefits of OnTrackPM is that it places accurate, reliable data in the hands of the stakeholder instantly and appropriately. The project team can view the cost and schedule performance of each account (CPI and SPI) as well as forecast the cost and schedule at completion and for the total project. When based on established rules of credit it will be done even without your actuals. OnTrackPM also affords the efficiency of being able to roll-up to any coding structure with it’s innovative Rosetta Stone cost code structure.
Numerous benefits are derived from this: reduced time-lag for reporting and forecasting, yielding greater accuracy, and greater overall project execution efficiency.