The New Dynamic of Portfolio Management by Kulathumani Murali;

Author:Kulathumani, Murali;
Language: eng
Format: epub
Publisher: J. Ross Publishing
Published: 2021-06-15T00:00:00+00:00

KEY CONCEPT: A portfolio’s funding model can either be centralized or distributed based on how much autonomy is given to individual projects in the portfolio.

PORTFOLIO BUDGET MANAGEMENT IMPLEMENTATION USING SMARTSHEET

Solution Approach

Design a basic budget template in Smartsheet as shown in Figure 11.1, with the following features (alternatively, the Budget Management Template Set can be downloaded from Smartsheet which contains the sheet shown in Figure 11.1):

Figure 11.1

1. Every project’s expenses are broken out into these categories of expenses:

a. Hardware

b. Software

c. Consultant expenses

(The above are just examples. An organization should create their categories after consulting with Finance.)

2. There are a few standard columns as explained below:

a. Account Code

i. This code is typically provided by Finance.

b. Monthly Actuals

i. This column is populated with the money spent this month for each project—this can be sourced from Finance.

c. Monthly Budget

i. This column is populated with the money expected to be spent this month for each project—this has to be populated by the project team.

d. Month’s Budget versus Actuals

i. This is a comparison of the previous two columns.

e. IT/Finance Approval

i. This column tracks whether the amounts are approved.

ii. It typically involves review by IT/Finance.

Figure 11.2 shows an example of what the budget template would look like when populated. This one shows the project budgets for the month of January. Similarly, for each month, there would be a sheet showing project budgets for that month. All of these sheets are combined into a master view as explained in the process below.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.