Project financial management, sometimes referred to as project accounting, is managing a project’s financial aspects including its cost, revenue, and profit. To this end, it brings together planning, estimating, budgeting, funding, managing project expenses, and billing. Research shows only 43% of businesses agree that they “always” or “most of the time” complete projects within the set budget. That leaves 57% of businesses – the majority – having trouble with finishing projects without spending more than they planned.
But why do so many projects get out of hand so quickly? Why, at the end of the day, the numbers don’t line up? The answer lies in how well the project businesses are doing project financial management. This includes planning, tracking, and managing project financials seamlessly. With our wealth of experience in this space we help our clients achieve the goals of managing and bringing in project within budgets and on time.