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Planview Customer Success Center

Revenue and Cost Management

Revenue and Cost Management

The Revenue and Cost Management capability supports tracking and controlling engagement costs and monitoring financial performance. Each capability within the Planview Capability Framework has a distinct set of features and functionality, business processes, best practices, and analytics and reports that deliver value to customers in the form of specific business outcomes.


Processes and Reports

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Revenue and cost management supports managing financial information for professional services engagements. As projects progress, their incoming costs and revenue can be compared against their original budgets and remaining effort to ensure they maintain profitability. When paired with the Billing and Revenue Tracking capability, it enables effectively billing engagements.


Revenue and Cost Management Process Steps


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Revenue and cost management process flow

Process Step Description
Capture actual costs and revenue

Update the financial plan with the financial actuals to capture an accurate representation of the project's revenue and expenditure. This information can be used in comparison with the project budget to track variances against estimated profitability.

Labor actual costs and revenue for work items with the Time and Material billing type are automatically rolled up to the financial plan based on predefined resource rates. This information is typically captured from timesheets, but can also be added using the data loader or calculated from manual entries on the schedule. If the work item has a fixed price, the actual revenue will be updated with that value once the work item has been completed.

Non-labor actual costs and revenue must be updated manually in the Financial Planning panel.

For more information:

Manage project costs and remaining effort

Ensure the work and financial plans are updated to accurately reflect work items that have been completed in addition to the remaining resource efforts and costs required to deliver the project. This up-to-date information helps managers accurately forecast cost versus revenue and understand financial variances to safeguard the project’s profitability.

For more information:

Monitor financial performance

Monitor and compare the budget cost and budget revenue with the actual cost and actual revenue to track the project’s progress and any financial variances. The Project Financial Highlights and Project’s Percentage Complete visualizations can be used to monitor the project’s financial performance and overall profitability.

Project financial information can also be analyzed in greater detail by adding relevant financial fields into the Work Plan panel or by creating reports and constructing dashboards. Utilize this data to help make informed decisions and manage exceptions.



Revenue and Cost Management Reports

There are several standard financial reports in the report library. These can be run with specific filters to see the appropriate financial information. See Financial Planning Report Examples and Timephase Financial Data in Reports and Dashboards for more information.

Additional reports and dashboards can be created by the administrator and shared with the organization and appropriate team members.