Attached is a document written by Shawn Kim from Microsoft Consulting Services which provides great insight into the budget and cost management capabilities of Project Server 2007. This document is based on actual customer experience and is intended to be used as a guide for any organization that wants to do budget and cost modeling using Project Server 2007.
“This document is intended as a “how-to” guide for budget and cost modeling using Microsoft Office Project Server 2007. Microsoft Office Project Server 2007 is a great tool for coordinating and managing project schedules and resources. While many users know the schedule and resource management capabilities of Project Server 2007, most users are not familiar with the budget and cost management capabilities of Project Server 2007. With Project Server 2007, you can set a budget to a project, and track costs against the set budget. You can also group the projects so that budgets and costs can roll up to a program or portfolio level.
The budget and cost tracking model was used at a federal government agency client site and it can be applied at many organizations. The model enabled the agency to use Project Server 2007 to track budgets and costs at a program level in a central location. Previously, the agency had to access several separate systems (budget in one system, resource costs in another system, fixed costs in yet another system, etc…) in order to get all of the necessary information to see a clear picture of the program. Project Server 2007 enabled them to very easily capture and report the budget and cost information from one central location in addition to providing them day to day cost and schedule visibility out of the box.”