Managing the budget with Augeo : forecasting, budgeting and control

 

Budget Management


Forecasting, Budgeting and Control

Budgeting is an essential tool for managing an enterprise. It identifies the costs and provisional receipts of the company, comparing them with the set objectives and reality.

Fiscal management is based on the fundamental principles which are forecasting, budgeting and control. The forecast is a preliminary study, before making a decision, opening up the various scenarios and possibilities of achievement. Then comes the budgeting, the previsions made in this phase predict achievable goals and the means of carrying them out according to the budget. Measuring discrepancies between objectives and achievements highlights the anomalies. Control can then be used to explain and exploit these anomalies.

Measure project performance against budgets

The cost management plan displays recommendations to manage the cost anomalies and the procedures to follow if the actual project costs are different from the approved budget for the project.
As a project manage, having a cost management plan, you no longer need to invent a new course of action every time you see a cost anomaly during the implementation of a project.

Augeo6 compares the planned, actual and re-estimated expenditure and so allows you to have visibility on budget variances.


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