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learn how to approve cost from Projector Web |
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Projector's cost approval interface is designed to make cost approvals as fast as possible. This page walks you through the process of moving cost cards from submitted to approved. Before we get into the details of actually approving cards, you should first analyze how you like to approve cost and set up a search query to match. For example, do you like to approve cost person by person? Perhaps project by project? Perhaps you don't care about groupings at all and just want to approve all cost cards for a week at once. Once you've decided how you like to approve cost, set up a search and save it to your favorites. Now whenever you to get your approvals done, you can do it as fast as possible. When doing your approvals you can also view how a set of approvals would affect your project budgets. |
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Projector Fundamentals: Time and Cost Management webinar (go to 32:40) is a great resource to learn about Cost Approval Workflows and Permissions in Projector. |
Permissions and Settings
Cost approval is generally a three part process. The three parts are:
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| Budget Type | Description | Example |
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| Contract Terms | Contract terms are set on the Engagement Contract Tab. Notify a user when this approval exceeds the Not to Exceed cap. | Contract line item has a cap of $10k. Approving these costs cards will result in $10,001 of billable expenses. An alert is thrown. |
Engagement Budget | Engagement budgets are set on the Engagement Budget Tab. An engagement budget encompasses all cost cards on all projects under the engagement. Alerts only use the Actuals to Date vs. Budget at Completion threshold and require that Send E-mail Alert checkbox is ticked. | Engagement has a budget of $1000. Your installation is configured to alert you when 80% of that budget is consumed. Approving these cost cards results in $1001. An alert is thrown. |
Project Budget for active baseline | Project budgets are set on the Project Budget Tab. Project budgets look at all cost cards against a single project. Alerts only use the Actuals to Date vs. Budget at Completion threshold and require that Send E-mail Alert checkbox is ticked. Only the active baseline is checked. | Project has a budget of $1000. Your installation is configured to alert you when 80% of the budget is consumed. Approving the cost cards results in $1001. An alert is thrown. |
| Sub-Project Budget for active baseline | Project budgets can be broken down into more granular buckets. For example, create a budget for each resource working on this project. Then time-phase that budget for each month. Alerts are limited to the smallest bucket defined. In our example, you only receive a budget alert when a cost bucket is exceeded. Not when the resource's bucket for all periods is exceeded. Budget alerts are thrown when you completely consume the budget. Only the active baseline is checked. | Jim is budgeted $200 for last week. Approve $201 of cost cards. An alert is thrown. |
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