Deltek Insight 2012: Project Budgeting Using Costpoint Budgeting and Planning

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Robin Entrekin, Camber Corporation uses Costpoint Budgeting and Planning to assist with managing the entire Project Life Cycle. And you can too! By attending this session, you'll get an in-depth look into the Projects side of Budgeting and Planning -- proposal through final budget and EVM. This session also focuses on the creation of annual plans, mid-year outlooks, forecasting forward rates and review reporting capabilities -- including visibility into resource schedules for employees. Beginner Level.

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Deltek Insight 2012: Project Budgeting Using Costpoint Budgeting and Planning

  1. 1. Project Budgeting UsingCostpoint Budgeting andPlanningRobin J. Entrekin, VP Business Processes, Camber Corp.Martha Manning, Principal Customer Care Analyst, DeltekGC-51
  2. 2. Overall AgendaIntroductionsProject Budgeting and Project Lifecycles – Martha ManningReal-Life application – Robin Entrekin  Key practical features of Costpoint Budgeting & Planning  Application initialization, budgeting utilities, assumptions  Difference between project budgets & organization budgets  Overview and project budget  Key CBP reports for project budgetsQuestions/Conclusion2 ©2012 Deltek, Inc. All Rights Reserved
  3. 3. Project LifecycleFrom Proposal Preparation to Final Budget
  4. 4. Project Lifecycle MS Project/Primavera Monitor/ Project Proposal Budget EAC Closeout If you use Schedule Software, it can be uploaded into B&P You can use prior projects to create a proposal Copy your proposal to a budget Monitor your budget and create EAC’s with actual cost Finalize your project and continue your cycle to the next project4 ©2012 Deltek, Inc. All Rights Reserved
  5. 5. Upload from MS Project/Primavera5 ©2012 Deltek, Inc. All Rights Reserved
  6. 6. Create Proposal from Project Budget or EAC6 ©2012 Deltek, Inc. All Rights Reserved
  7. 7. Create Budget from Proposal7 ©2012 Deltek, Inc. All Rights Reserved
  8. 8. Monitor Results/ EAC8 ©2012 Deltek, Inc. All Rights Reserved
  9. 9. Project Lifecycle MS Project/Primavera Monitor/ Project Proposal Budget EAC Closeout9 ©2012 Deltek, Inc. All Rights Reserved
  10. 10. Camber  Government Contractor $500 M in revenues, 2400 employees 3 groups, 25 divisions, 80+ Orgs Using Budgeting and Planning Module since Summer 2009Deltek Budgeting and Planning allowed Camber to rollout common processes and a tool to 3 groups, 25 divisions and80+ orgs – all of which had their own processes and nuances when it came to planning and budgeting.“With Costpoint Budgeting and Planning, we are able to accurately project revenues – something we could never do.Before, everyone lived in spreadsheets and you never knew where you were. Now we have visibility and access to allthe project budgets and easily roll them up to the corporate budget. The on-screen analysis with drill downs make it aninvaluable tool for Finance and Project controls, managers and administrators alike.”- Robin J. Entrekin, Director-Information Assurance 10
  11. 11. A “Real Life” ApplicationHow Camber Corporation uses CBP forProject Budgeting
  12. 12. Key TakeawaysUnderstanding the capabilities of CBPSee the value associated with using the product for budgetingand forecastingUnderstand the use of project budgetsUnderstand the differences between organizational andproject budgetsUnderstand how CBP can become an integral part of yourmanagement information system12 ©2012 Deltek, Inc. All Rights Reserved
  13. 13. Practical Features of CBPCostpoint Budgeting and Planning provides managers with easyaccess to performance data for both projects and organizations.  Provides fully integrated set of budgeting, forecasting and reporting tools in a web-based environment  Enables seamless integration with Costpoint via overnight synchronization processes  Has an “Excel®” look and feel helping users become acclimated quickly  Enforces Costpoint validations for budgeting  Eliminates “spreadsheet chaos” assembling multiple workbooks from various sources (wondering and hoping that you find all the boo-boos before you submit final budgets)  Provides “one stop shopping” for budgetary analysis from the highest level summary income statements down to the utilization for specific individual employees  Incorporates multiple report options for comparison of budgets and forecasts to actual results13 ©2012 Deltek, Inc. All Rights Reserved
  14. 14. Includes proposals, non-backlog, and Project Budgeting EAC budgets.Initialization Requirements Budget assumptions  Holiday schedule  Project level for budgeting (locked  Indirect pools and rates in once selected)  Charge level  Employee specifications  Revenue level (categories, escalation, etc.)  Other level  Generic rate categories  Hours (resources) to be consumed  Account mapping to tabs  By period (within the PoP)  Revenue assumption (forBudget utilities transaction based formulas) are  Historical loads integrated.  Status maintenance All project budgets prepared in one source. No more wondering about calculations, roll-up budgets, etc.14 ©2012 Deltek, Inc. All Rights Reserved
  15. 15. Project Budgeting CBP has the ability to 100,000 monitor the 90,000 $20,000 amount of 80,000 Total budget risk Organization inherent in your 70,000 Budget organizations. 60,000 Project $80,000 50,000 Budgets 40,000 * At Camber, we 30,000 eliminate the budget risk by creating organization Revenue budgets from summarized project and non-backlog budgets. Project Budgets Budget Risk15 ©2012 Deltek, Inc. All Rights Reserved
  16. 16. Project vs. Organization Budgets Tactical Budgeting Strategic Budgeting (Projects) (Organizations)  Outlines detailed activities by  More global in scope specific project  Goal-oriented targets  Identifies resource  Blended assumptions requirements needed for  Focus on the functional execution  Fiscal period focus  Lists specific project cost, schedule and performance assumptions  Constrains budgets by contractual parameters  Period of performance focus (by fiscal period)16 ©2012 Deltek, Inc. All Rights Reserved
  17. 17. A typical budget development launch screen for a budget Overview level project.FunctionsNavigationInformationReports & Actions 17 ©2012 Deltek, Inc. All Rights Reserved
  18. 18. The Launch Page Functions  Cost Analysis – Actual results, reports, visual displays, drill downs, etc.  Budget Development – Develop budgets, forecasts, EACs, utilities  Performance & Variance – Comparative reports, variance analysis  New Business & Proposals – Proposal budgets, non-backlog projects, cloning utilities, etc.  AOP/Outlook Analysis – Budget/EAC status  Supplemental Reports – Special reports and graphs (PSRs)  Earned Value Management – Reports and utilities supporting EVM (basic EVM functionality, not ANSI-748 compliant)18 ©2012 Deltek, Inc. All Rights Reserved
  19. 19. The Launch PageNavigation  Enter project ID directly – Actual results, reports, visual displays, drill downs, etc.  Point & Click – Develop budgets, forecasts, EACs, utilitiesInformation Important project data provided for user 19 ©2012 Deltek, Inc. All Rights Reserved
  20. 20. The Launch Page Reports  Varied reports available for projects with drill down capabilities  Easy export to Excel®  Module specific Actions  Change password  Add users to project accessibility20 ©2012 Deltek, Inc. All Rights Reserved
  21. 21. The Project Budget Validated point & click data entry Export, save, commit, delete Excel look & feel Tabs to organize types of costs to enter Data entry shortcuts21 ©2012 Deltek, Inc. All Rights Reserved
  22. 22. The Project Budget Budget preparation tabs  Staff Hours – Enter hours by period for employees working on project  Materials – Enter material costs by period  Subcontractors – Enter subs (as a vendor cost)  Mat’l Handling (Other) – Enter other non-labor costs consumables  Travel – Enter travel budgets (by employee, event, etc)  Consultants – Enter consultant (as a vendor cost)  Other Direct Costs – Enter other sundry direct costs  Subcontractor Hours – Enter sub costs as hours by employee or PLC  Consultant Hours – Enter consultant costs as hours by employee or PLC  Staff Escalation – Enter employee escalation by employee in effective period  Burden Cost – Summary of entered budgets, including access to revenue setup and revenue review.22 ©2012 Deltek, Inc. All Rights Reserved
  23. 23. Reporting…The sky’s the limit… Using Cognos 10, numerous and invaluable reports have been developed to provide management with data used to evaluate projections. This particular report is one of many internally developed and tailored to our needs.23 ©2012 Deltek, Inc. All Rights Reserved
  24. 24. ConclusionDemonstrated the ability to create comprehensive projectbudgets using comprehensive variables.Briefly discussed the differences in the focus of preparingproject vs. organization budgets.Reviewed ease of entryDiscussed reporting possibilities
  25. 25. Questions?25 ©2012 Deltek, Inc. All Rights Reserved
  26. 26. Thank You!Contact information for questions:Robin Entrekinrentrekin@camber.com(256)508-9005Martha Manningmarthamanning@deltek.com(877)457-7765Suggestions for other activities at Insight:• GC-318 Costpoint Budgeting and Planning Roadmap and Customer Round Table• Visit the Costpoint Budgeting & Planning kiosk in the Expo Hall

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