Managing a Project is no more tedious if you have the right Project management ERP software in place. If you have a proper ERP system, then the Project Management task becomes as simple as that. Managing a Project is managing 3M, which means Machinery, human resources, and materials.
Submit a proposal
The first step of the project activity is to submit a proposal. For submitting the proposal, you need to know the project in depth.
Money Management is the key to any project. So precise understanding of the project will help you to precisely define the project based on the project.
Understand the project and break it into Main Activities. Each main activity is further divided into sub-activities. Again each sub-activities is further divided into sub-activities and so on. The levels of sub-activity will depend on the size of the projects in terms of the different work involved. Below I am giving an example of Project Management for creating a new township.
So what would be the main activities? Few are Construction of Roads, Bridges, Commercial Complexes, Residential Complexes, Public Utilities, and Entertainments such as parks, stadiums, and so on. So these will be the main activities. Now let us take the residential complexes and further divide them into sub-activities. So there would be Apartment complexes, Villas complexes, amenities inside residential complexes, etc. We can further divide this into sub-activities.
Example of Project Management
Let us take the case of Villa complexes. There would be different Villas that will be again considered as Sub Activities. We can narrow this down to a Villa. So the breakup would be Base, Structure, Plastering, Flooring, Painting, Electrical, Plumbing, Doors & Fittings, Gardening, and so on. If we take Structure as an example, further sub-activities will be walls, beams, and concrete slabs you can narrow down to the lowest level of sub-activity.
Once it is reached to a lower level of sub-activity split the same into 3 M's such as Material required for the said sub activity, Machinery required for the said activity (Machinery can be purchased for the specific activity or can be rented or can be shared with other activities, so depending upon the usage the cost can arrive), and finally, the human resources required either in hours or days or months. Like this, arrive at all the activities, sub-activities, and the 3 M's required for the complete project.
Now you have all the activities listed at the base level. Here comes the role of Project management ERP software for the estimation. Define the Project, Activities, and Sub Activities in the Project Master. Against each last level of activity, enter required human resources, required Material, and required Machinery. There would also be another option to enter any other estimated expenses related to activities such as miscellaneous expenses and other expenses.
Once all the details are entered for all the lowest levels of sub-activities, you can roll up to the next sub-activity level. Finally, reaching the Project level will give you the Estimated Project Cost. The beauty of the Project Management ERP software is you can know the cost at any level just with a mouse click. Various reports will be available to know the cost and activities at each vertical and horizontal dimension. This means if you need to know the Materials Costs for a particular sub-activity and all the sub-activities under that, choose the required sub-activity and generate the report; the values are there.
The created estimation would serve as the budget of the project. For long-term projects, estimations can be amended depending on any changes in the initial estimation. ERP's Provision will also be available to maintain the different versions of amendments for reference.
Generate material Purchase requests
Once the estimation is approved and the project is started, all the job executions can be done based on the estimation. We can generate material Purchase requests from estimation and send them to Purchase Department to make the stocks available and delivered to Project Sites. Controls will be there to make sure we purchased the required materials, and the system controls the required quantity. So no wastage or shortage of Materials. Similarly, HR can be notified of the required human resources.
Payment Milestones definition will help the Finance Department to generate the Customer Invoices as defined in the Project Estimation. Expenses can be controlled and can bring within the budget.
At any point in time, management can see the Project Progress, costs incurred to date, incurred expenses against the budget, and different comparison reports related to Projects, anticipated Profit statements, and any reports required related to the project which you think in your mind. Graphical representations will give you more clarity on the project's whereabouts.
In short, using Odoo Project Management ERP Software for managing a Project means hassle-free Project Management.
If you plan a new ERP Software implementation and you have heard about Odoo and got attracted by the Odoo ERP platform, used it but don’t have time, resources, or knowledge to manage this yourself, looking for professional help, then you have come to the right place. Bassam Infotech has implemented scores of Odoo ERP all around the world. We have also developed and delivered our own customized Odoo applications with minimal Odoo implementation costs.
Bassam Infotech is a company of Official Odoo Certified Experts with 24 years of expertise. We are a one-stop shop for all your business needs, including Odoo Implementation, customization, integration, and support. We’re available by phone or email, with a 24-hour response time in case you need immediate Odoo ERP support. For more details, Call us on +91 88912 49995 or +91 70250 75566 email us at firstname.lastname@example.org