Wellingtone is excited to introduce a new App for financial management in Project Online.

We understand that not every organisation is mature enough to start using the schedule to track project finances, and sometimes a simple SharePoint list just doesn’t cut it.

The new PRIME Finance App from Wellingtone enables Project Managers to effectively manage their project budget, forecasts and actuals in a familiar Excel-like interface.

The App gives organisations the flexibility to categorise costs to provide more detailed analysis and ensure more accurate cost planning.

Screen view of Project Financials screen in Finance App
Wellingtone PRIME Finance App

The Finance App is embedded within the Project Detail Pages in Project Online enabling finances to be managed throughout the project lifecycle.  

The App is configured to display an excel-like interface for each year of the project. Organisations have the flexibility to choose between the calendar year or a specific financial year. The rows are configured to show custom cost categories and the columns are configured to display the costs per month, including a total column for each line item.

For multi-year projects, end users can use the drop-down option to toggle the interface between different years.

Drop-down option on PRIME Finance App - Project Online
Drop-down option PRIME Finance App

The table will always display data for the current year selected, but the fields displayed underneath the table are cumulative totals for the project.

Project Financials – Wellingtone PRIME Finance App – Project Online

As the app is synchronised with the project schedule, the data entry tables available will update dynamically to reflect the duration of the project.

Like in the example shown above, if your project started in January 2018 and is expected to finish in December 2020, you will see data entry tables available for 2018, 2019 and 2020.  

The Finance App from Wellingtone provides real-time financial transparency with comprehensive dashboard reporting.

Built-in to the App itself is a bar chart visualisation allowing the project manager to assess financial health by comparing actual expenditure with what was forecast.

Forecast and Actuals - PRIME Finance App for Project Online

What about at the portfolio level?

Our team can develop a suite of Power BI reports using project and programme financial information, providing management with greater cost transparency to take informed decisions; supporting organisations to optimise capital and operational expenditure, and assess overall portfolio health.

Report in PRIME Finance App for Project Online

By Rachel Goodwin – Wellingtone