Project Cost Control and Project Budget Management – Cerri Project

Project Cost Control and Project Budget Management Software Combined
Easily monitor costs for essential insight on project performance and budgets.
Projects on budget for project success
Stay on top and be alerted to any budget discrepancies thanks to Cerri Project’s readily available comparisons on planned and actual expenditures against estimated work to completion.
Project Cost & Budget Management
Maintain a precise and transparent understanding of your budget status with Cerri Project’s robust management and reporting features. They offer a comprehensive overview of any discrepancies, empowering you to flexibly manage your budget, whether it’s based on yearly costs, quarterly expenditures, or multiple cost centers. After evaluating your charges and outlining your purchases and expenses, Cerri Project facilitates the establishment of an initial estimate of fees and costs.
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Cash Flow
Gain insight into the necessary cash flow for each project period (whether monthly or weekly), accounting for labor costs, purchases, and expenditures thanks to Cerri Project’s project cost analysis views.
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Cost & Budget Management
Effortlessly oversee your project budgets and precisely track project costs using Cerri Project’s multi-rate and cost management software capability. This feature allows for individual calculation of billing and cost rates for labor, expenses, materials, and more for each company and resource. Moreover, it offers support for transactions in multiple currencies.
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Optimize your business processes with Cerri Project
To complement its project cost and budget management capabilities, Cerri Project offers a wide range of project management tools to help you maximize ROI and achieve your full productivity potential.
Here are some.
Schott AG
“Thanks to the tool, we succeeded in making IT performance visible and managing our resources and performance. User definable workflows, interfaces to other systems and a web-based user interface as an add-on, helped us decide to use Project as an overall solution.”
Christian Weil,
Head of ITSM-1 Service Support Business Applications
“Thanks to Project, we now have one tool for managing our project data. This allows us to easily share information with our management team, which has created better visibility and an increased knowledge of our accomplishments within the company.”
M. Olivier Hertu,
“Our main reason for selecting Project can be attributed to its user-friendly yet rich interface and powerful reporting capabilities providing us visibility into complex projects, portfolios, resources and issues.”
Sara Saleh,
Planning and Projects Coordinator
“The main reason for selecting Project can be attributed to the first class service delivered by the Project team confirming that we can build a long standing partnership with a trusted advisor, rather than just a transactional supplier/customer relationship. Another big factor in selecting Project is the fact it delivers 90% of what we need today out-of-the-box and has the scalability and flexibility along with its technical team to meet our future needs. In addition, Project’s user-friendly GUI is nice, clean and easy to follow with direct terminology and menu options that can adapt to our business.”
Matt Harrison,
Head of Programmes Service Development
Master project budgets with Cerri Project
Cost and budget management FAQ
What are the key elements of project cost management in project management?

Cost management in project management is the process of planning and controlling the budget of a project or business. It involves estimating, financing, funding, controlling, and managing costs so that the project can be completed within the approved budget. The key elements of cost management in project management include:


  1. Cost Estimation: This is the process of forecasting the financial resources necessary to execute project activities. This includes direct costs like labor, materials, equipment, and indirect costs such as administration and facilities.


  1. Cost Budgeting: Once costs are estimated, the next step is to aggregate these costs to establish a cost baseline or budget. It involves allocating the overall estimates to individual tasks or work packages to establish a budget against which project performance can be monitored and controlled.


  1. Cost Control: This process involves monitoring the status of the project, updating project costs and managing changes to the cost baseline. It ensures that cost overruns are identified as soon as possible, and corrective actions are taken when necessary.


  1. Cost Reporting: Regular cost reporting is necessary to provide information on the status and future forecast of the project’s costs. This includes variance analysis, which compares actual costs with the budgeted costs.


  1. Change Control System: It’s crucial to have a robust change control system to manage any changes to the project scope, schedule, or costs. It ensures all changes are documented, evaluated, approved, and communicated before being implemented.


Proper cost management ensures that a project’s budget is accurately estimated, carefully controlled, and continuously monitored, ensuring the project can be completed within the approved budget.

What does budget management entail within project management?

Budget management within project management involves the process of estimating, allocating, and controlling the costs in a project. It’s aimed at making sure the project is completed within the approved budget. Here are the key components of budget management within project management:


  1. Cost Estimation: This step involves determining how much it will cost to complete the project. The cost estimates should be accurate and revised as necessary throughout the project.


  1. Budget Allocation: Once costs are estimated, they need to be assigned to different parts of the project. This budget allocation should align with the project plan and reflect when and where resources will be needed.


  1. Budget Tracking and Control: This involves constantly comparing the budgeted costs with the actual costs to monitor the expenditure. Any discrepancies or variances need to be identified and addressed.


  1. Forecasting: Based on the current spend rate and progress of the project, it’s important to forecast future costs. This helps identify potential overruns before they occur.


  1. Change Management: Projects often face changes that can impact the budget. Effective budget management requires a system to approve and track changes that affect the project cost.


  1. Reporting: Regular budget updates and reports should be created to keep stakeholders informed about the status of the project budget and any potential issues.


Remember, effective budget management can help ensure that the project delivers its objectives within the agreed-upon cost constraints.

How can I get the most from my cost and budget management software?

In order to maximize your benefit from Cerri Project cost & budget management software you have different options available to you. 

  • Book a demo with one of our specialists. They will show you how to leverage Cerri Project’s cost & budget management tools to meet the specific requirements of your organization.
  • Check out our help portal.
  • Contact us for more in depth consulting services.
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