Budget tracking in a project management context can be tedious because the allocated resources are variable.
This is why JOUROFF project tracking software offers an analytical approach that allows you to manage time allocation, both from a forecasting perspective and in production mode.
Upstream of time tracking, the software offers several levels of configuration, including:
Modeling your project portfolios, according to different phases or sub-projects
Estimating the budget per project
Defining budget tracking rates, which is the core component of project budget management
More concretely, for cost tracking, the software allows you to define a salary rate per employee, based on the time unit “hour,” “day,” or “month,” i.e., aligned with the monthly salary.
Monthly estimation provides greater determinism, as the system automatically calculates the daily salary rate based on the number of working days in the current month.
The goal is to index the salary rate to time spent, while offering a breakdown of the time spent.
Budget Balance per Project
In a time-and-material project context, billing is based on time spent.
In practice, this can be complex, as project progress is not always linear.
Additionally, the nature of the client contract often implies variable billing, depending on the profile of the employee assigned to the project. In other cases, project billing conditions are based on a fixed contractual rate.
To address this, JOUROFF offers several options, starting with the mode of billing rate calculation, either hourly or daily (TJM).
Next, we offer several modalities:
Project Billing Description by Time Spent
Depending on the contract type, a project invoice may have a different type of content.
For this, JOUROFF relies on its calculation engine, based on the breakdown of time spent, offering multiple combinations for generating the invoice description.
Firstly, from the Analytical Tracking interface described in the first paragraph, by selecting the Employees View, you choose to include the employee in the invoice description.
However, it is possible to hide the employee, showing only the project or company as billable items.
(1) Group by Client
(2) Group by Sub-project and display Billing Rate
Project Time Counter
Time-and-material project billing requires tools to measure the time spent on the project.
JOUROFF software allows estimating the workload to be consumed on the project, thus managing a project time counter.
It is also possible to set a maximum limit to avoid exceeding contractual constraints or project time consumption conditions.
