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Project Costing |
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Project Costing features in
ProMIS provides comprehensive analysis of the cost
incurred towards projects and determines the overall profitability. It is
closely integrated with other modules including Financial Accounting, Inventory
Control, Sales & Purchase Order Processing, HR & Payroll.
The Steps involved in the estimation and execution of projects varies in the case of
• Construction Projects
• Service oriented Projects (Supply & Installation)
However the normal cost components can be classified as Manpower, Material and
Overheads. Cost towards Plant & Machinery utilization, Sub Contracts etc. may be
analyzed separately or as part of Overheads...
Construction Projects
The project analysis may start right from Estimation or at the Project Execution
stage after order confirmation. Estimation is done based on the material
requirements, manpower estimates and also the overheads anticipated during
project period. During the project execution, the cost of material, manpower
utilization, overheads are calculated from Inventory, Timesheet, Accounting
modules respectively. Overall project cost, BOQ Vs Material Issues etc. are
available.
Supply & Installation Projects
Companies engaged in these activities requires a Work Order Processing system
starting with project based quotations. The final cost of each task in the quote
is arrived from the material, consumables, manpower and other costs involved.
Work order is generated from quotation with detailed BOQ and task details.
Quantity analysis of Materials against the BOQ is given to ensure that it is as
per the project estimate. Invoicing is based on the phases fixed in work order
as per the completion of individual tasks
Manpower costing
Timesheet module tracks the project manpower utilization. This enables the user
to generate the project wise break-up of Employee cost in each month or for the
entire project span.
Material Costing
Inventory module provides the Material Issues to Projects which can
be used to track the material utilized for each project. The Summary Report of
Material Issues clearly shows the total material cost incurred towards each
project in the specified period.
Project Income/Expense Analysis -
Reports showing the Income generated as well as expenses incurred towards
projects.
Project Exception Reports - To list the
FA Vouchers where the Project allocation was not entered properly.
Project Contribution analysis -
Contribution from projects towards turnover.
Task Management
The various tasks in the job can be scheduled and allocated to the
staff. This can be monitored regularly to assure the efficiency of utilization
of the manpower against the job.
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