Complete the table of costs in the
Finance section of the PID. Calculate the benefit value against each Realisation in the benefits
table (see PROJECT INITIATION Principle)
Use average staff costs, including overheads, in conjunction with
timesheets. Include indirect and direct project costs such as
accommodation, equipment, hires, subcontractors, etc. Measure and
record actual costs on a regular (usually weekly) basis.
Using any existing records and/or any benchmarking exercise, establish
current costs to use as a baseline budget against which future costs can
be compared to establish savings.
Identify where savings and income triggered by project outcomes will
appear in the organisation's financial accounts. Ensure that the
finance department will record them when they occur, bearing in mind that
they are likely to happen after the majority of project activity and costs
have finished.
Use tables and graphs to make the costs and savings/income visible as
the project progresses.
Report to the regular meetings of the steering committee
