Monitoring

Monitoring combines information from Project Progress to generate project monitoring reports and financial statements. These reports are based on quantities and amounts, and can be shown for any project level.

  • Monitoring
    Monitoring is concerned with building actual cost control, controlling inquiries, reports, and performance measurement.
  • Posting types
    Posting types are used to recognize transactions. Posting types indicate the origin of transactions. In project history, related posting types are combined. For example, you can use the posting type to determine the cost origin of sundry costs.
  • Control inquiries and reports
    During the execution of a project, control inquiries, and reports are used to monitor projects. You can make inquiries and print reports for project control purposes. Data is extracted from several other modules for control overviews. The project control inquiries and the project monitoring reports include the budget, budget adjustments, and budget extensions, combined with the costs, revenues, commitments, actual progress, and forecasts for final results. You can display and print control data on various levels, and view recorded data in a number of ways and at several levels.

    Following features are supported:

    • Build actual cost control: You can select the projects for which you want to display the actual cost control data. You can use this data for project monitoring. The budget, budget adjustments, budget extensions, costs, revenues, commitments, actual progress, and forecasts for final results are used to fill the monitoring tables in the Project Progress module. Once this data is generated, it can be used in all project control inquiries.
    • Control inquiries: You can monitor the projects that are executed. The actual cost control is aggregated at the project level. This is one in a range of sessions that are available in the Project Progress module for monitoring projects. Each of the sessions provides a different level of detail.
    • Display financial analysis: You can create a graph of the progression of costs and revenues during the project execution time. By analysis of the costs and revenues within a specific period, you can make a planning of the required or remaining amounts in the future.
    • Print control reports: You can print control reports for Cost Control, Hours Control, Project Control, Management Report, Expected Profit/Loss and so on.
  • Performance measurement

    Following are the features supported by this module:

    • Performance measurement: You can measure the performance of a project by generating performance measurement data up to a specified period. Four levels of measurement are available: activity, activity/cost type, project OBS, and OBS/cost type. Performance measurement can also be generated against the old baseline and old version, if available.
    • Earned value method: Earned value is a time-phased method of measuring project performance. Planned work is compared with completed work to determine if project costs and schedules are within budget. Usually contrasted with more conventional bottom-up performance measurement techniques.

    • Calculating the performed: In performance measurement and monitoring, LN calculates the performed, in different ways, depending on a number of settings. Performed is the budgeted costs according to the progress at the end of the current period. In most cases, LN calculates the performed as follows:

      performed = budgeted amount * progress
    • Cost forecast: To generate or view the cost forecast on your project, you can use either cost objects or cost types. If you use cost objects, you can maintain the cost forecast for all cost objects related to elements and activities. If you use cost types, you can only maintain the cost forecast for activities. You can use a forecasting method to predict changes to the budget, or to predict extra costs or to predict the total project cost. These forecasts are displayed in performance measurement and monitoring.