In many companies, projects are integral to the contribution of revenue to the entire organization. However, having too many projects at hand may not be a true reflection that the revenue generated is all converted into profit for the company.
Without a clear control of how much a project really contributes to the bottom line, all efforts and work may just be a waste of resources and time and in some cases, contribute losses to the group instead.
This will definitely happen if project based jobs are not treated separately with its own expense account that include real time individual labor cost engaged, machinery usage cost, incidental cost factors and many other factors (i.e. Rental, subcontract jobs, etc).
At iContro, project based information can be tracked based on all of the above mentioned areas and even up to allocated fixed assets usage depreciation cost just based on each specific project time-frame, if required. With such information at hand, top management has an immediate true picture of any ongoing projects with the knowledge of its progress in terms of actual against budget, timeline and most importantly profitability.
This solution is the key to ensure success is maximized in each profitable project while mitigation can be made for losses incurred from non-profitable projects. Prevention is the key word while elimination of unwanted surprises which normally only reveals itself after completing the entire project is what the top management would be glad to do without.