Capturing project financials post-project completion

We generally use a work status of “Completed - Tracking Benefits” until the project “reaches it’s run rate” and/or is no longer in need of financial tracking.

Hi Nancy, We follow a similar process to RobinB.  PM’s can’t fully close down their projects in Planview whilst there are costs outstanding and need to actively manage accruals (we have found this seems to have incentivised chasing down those 3rd parties and speeded up the generation of those final invoices...).  Ongoing costs post implementation are picked up by the business teams benefiting from the change - in some cases this involves transferring some final project budget to the business cost centres to cover the ‘year 1’ costs which hadn’t been factored into their annual plan. Once the project team rolls off, the status is set as a soft-close with a work stats of ‘Benefits Tracking’.  It stays in this status for as long as our Portfolio Managers/finance partners wish to track the financial benefits 

Hi,

We also have a similar solution as Robin. We added a custom Work Status of “Post Delivery”. Time tracking is turned off for this Work Status but financials can still flow thru. Once the project is “Complete” then the sustaining organization needs to absorb any future costs.