Have you ever had difficulty monitoring the project budget? Are you sure that the project materials used are actually in accordance with what was budgeted? Let’s move to Tomps Project Management Software now!
Budget management is one of the most important and challenging things in a project cycle. Budget management is a calculation activity to estimate how much a project will cost. Effective budget management can ensure that the project budget is on the right track and will be completed within the planned scope. Without good budget management, it is not impossible that there will be cost overruns in your project.
According to Smallbusiness, there are at least around 85% of projects that experience over budget or cost overrun from their initial budget planning. Cost overrun itself is a condition where the costs incurred by a project exceed the project budget that has been set at the planning stage. Project cost overruns can dramatically cut margins and profits substantially. To minimize and prevent this unpleasant thing, it is important to pay attention to detail in the initial planning of the project. One detail that you should pay attention to is “What system do I currently use to control the project budget? Has this system worked optimally?”
Did you know, one of the causes of the failure of a project is the lack of access to Key Performance Indicators (KPI) by limited companies, where about 55% of them cannot access KPIs in real-time. Most of the current projects still rely on report work on online spreadsheet-based tools which of course have many limitations for producing project realization documents. This shows that project management should move to a digital medium that is more specific and has suitable features to support its mobility.
Utilizing the sophistication of project management software is certainly the best answer to the cost overrun problem that can occur in your project. Tomps as project management software has smart features that could improve your project management performance. Online and mobile-based, Tomps offers real-time value, transparency, and flexibility in managing overall project activities.
Tomps could also minimize the opportunities for fraud and cost-overrun. But, how?
Through Tomps, you can plan a detailed project material budget. Starting from a list of material names, material types, vendor names, required quantities, units of account, unit prices, types of procurement contracts, and others. You can do all this project planning systematically through Tomps.
Our Project Cost feature also helps you to track the status of the latest projects, the percentage of completion, the value of the project, to the amount of material in the project. If you are an “Approver”, you can also validate any material costs submitted by the team in the field through this interesting feature!
Wrapped in an attractive appearance, you can also track evidence of the materials and services used during the project. Not just one, the team can report up to tens of photo evidence of the materials used. The team can even continue to report evidence of their work even when the internet network is not available. If you are appointed as an “Approver”, you can also provide approval for each work report and material submission from the team in the field through this interesting feature!
The existence of the Geo-Maps Tomps feature makes all your evidence material listed the latitude and longitude points where the photo was taken. You don’t have to worry if the evidence is not actually taken from the field because Tomps system will automatically reject photos that are not taken in your project location area. This Geo-Maps feature also allows you to find out the accurate location where the evidence is uploaded to the system, so that the project can run more transparently, effectively, and efficiently.
Interested in trying Tomps project management software for FREE?