Definition: Project management is a discipline of planning,monitoring,executing and guiding throughout the entire project process to achieve a particular goal.
NetSuite Offers 2 Types of Project Management System :
Basic Projects : Basic Projects feature is used to track information about projects, customers, including time, contacts, and transactions.
Project Management : Project Management feature provides additional features like creating project records to track projects and tasks needed to complete. Project can be tracked individually or linked with a customer for better effectiveness.
In NetSuite the three key features of Project Management that deliver big advantages are: Standardisation of Process, Document control & Expenditure control and Resource Management.
NetSuite enables tracking the Flow of a Project, Work done, Costing, Resource Management, Profits & Losses, Budgeting, Gantt Charts, CRM and all the related transactions. NetSuite offers well described Dashboard for every Project which are highly customized according to the users needs.
Project Dashboard :
Project dashboard enables you with information specific to an individual project. The project dashboard offers portlets and quick links for creating project tasks, managing resources, viewing the Gantt chart, and entering time and expenses.
Profits and Losses: In NetSuite Effects of all the Posting Transactions with respect to the Project either Costing or Revenue , its Profit or Loss and the Margin of it is updated Under on Real-time Basis.
Project Reporting :
The following reports are available for Job Costing and Project Budgeting:
Project Cost Budget vs. Actual
Project Billing Budget vs. Actual
Project Task Cost Budget vs. Actual
Project Task Billing Budget vs. Actual
Project Records as Workspace
Project management records function as a workspace and help with each step of the project management workflow, from the earliest planning stages though the final work on tasks and customer billing.
Project Center enables you to assign project resources a standard Consultant role with access to the Project Center.
Project Tasks and Task Hierarchies
Create a project task record to track each activity that must be completed for each project. Project tasks represent individual actions within a set of actions that must be completed to achieve a goal.
Project milestones are used to mark a point in your project, usually completion of a set of tasks or as a project health check to determine if you’re on schedule.
Project Tasks and Milestone Scheduling :
Once the Job is created and its required setup is done, the Task creation, Task Scheduling, milestone Scheduling/ Creation, Task Assignment for the milestone, Time tracking are done.
The Project Management in NetSuite helps to standardise the process,documentation control as well as cost control and makes the project deliverable on time.It synchronises the work and enables increased effeciency.