AssessTEAM tracks project profitability in real-time. We use a simple comparison matrix between time invested and project budget to display accurate business intelligence reports. The final profitability also considers fixed expenses and change orders, project managers can see this on their web consoles or on our mobile apps.
The following are essential steps to ensure accurate profit tracking:
1) All persons on the software should have an accurate man hour cost assigned as this is how the software computes project cost investment.
2) Projects in the system should have a defined budget. Recurring projects can be set up to run month after month with the same budget.
3) Timesheets either per day, per month or per project to be completed by all persons in the organization.
The AssessTEAM evaluation engine collates man hours, multiples it with specific man hour rates per person and compares the total with the project budget to ascertain your gross profits per project, per project type and across the company.