Do you know where you are investing and how projects are progressing?
Initiative submission, investment approval and delivery tracking should form one connected process. For work delivered to clients, that view should also connect to invoicing and payment.
Why the overall picture is hard to see
Proposals sit in emails, approved budgets in a spreadsheet and status updates with individual project managers. It becomes difficult to see why an investment was approved, what has been spent and what that spending has delivered. Client projects add another distinction: completed work is not necessarily invoiced, and invoiced work is not necessarily paid.
What to check first
- Connect each initiative to a business objective, an investment estimate, an accountable owner and a recorded approval decision.
- Track agreed milestones, dates, owners, deviations and scope changes for approved projects. Status should reflect completed work.
- Show actual spending and estimated remaining costs alongside the approved budget. For internal initiatives, also track the agreed measures of business benefit.
- For client projects, connect contracted services and accepted delivery to invoices, due dates and recorded payments. Reconcile financial data with the ERP or another authoritative record.
First step
Agree what leadership needs to see
Start by agreeing what leadership needs to see: where money is being invested, who owns each project, what has been delivered, what has been spent and which decision is needed next. For client projects, add what is ready to invoice and what remains unpaid. Then define the application and data connections.
Our experience and the possible scope
Our experience includes building processes for initiative submission, multi-stage approval and delivery tracking. These establish roles, decisions, statuses and notifications for accountable owners. For client projects, the scope can extend to contract values, billing, invoicing and payment tracking, connected to the financial system.
Explore development and implementation
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