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Easy Visual Management of Project Finances? Try Cost Breakdown Structure (CBS)

You may call it Cost Breakdown Structure (CBS) or visual finance management. Easy Project CBS is an integral part of our existing, very popular feature called Work Breakdown Structure (WBS). Thanks to CBS, you can see and manage project and task finances right from the mind map view.

Easy Visual Management of Project Finances? Try Cost Breakdown Structure (CBS)

Have a great overview of the structure of your costs, revenues, and profit

The CBS represents a breakdown of the costs of the various components of the Work Breakdown Structure (WBS) including all works or services done by the subcontractors. It is used to continuously compare the actual costs with the budget and is an integral part of the cost management system.

To start using it, just turn it on with the Budgets button in your WBS module and instantly see the project's and task's profit, incomes or all costs. There is no need to manually switch between WBS and CBS modules - both are integrated into one module only.

To have CBS available in your Easy Project's projects, you need to have installed both WBS and Budgets features and have them activated on those particular projects.

Easy Project 2019 - CBS - Cost Breakdown Structure - legend

Easy Project 2019 - CBS - Cost Breakdown Structure - legend

 

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Customizable legend and currencies of Easy Project CBS

All WBS finances are based on project budgets data where you have incomes/expenses and personnel costs in plan and reality. This feature is most useful during project planning, in budgets setting phase and ongoing project finance monitoring. Just simply open a project in WBS view and you instantly see what tasks or subprojects are costing how much.

For quick visual insight, you can also use legend that highlights the positive, negative and neutral balance of your budgets. Moreover, you can quickly switch between various currencies to show the budgets in as well as choose what specific financial data you need to see in the mind map, such as real profit, planned profit, total costs, total planned costs, real incomes, and planned incomes.

When the cost breakdown structure is finished, simply print (or export to PDF) the whole mind map including all the budgets for each project and task.

Easy Project 2019 - CBS - Cost Breakdown Structure - print

Easy Project 2019 - CBS - Cost Breakdown Structure - print preview

Who can benefit from Easy Project CBS

Cost Breakdown Structure is useful in justifying the price charged to the client and keeping sellers and providers accountable. If the client doesn't know exactly what the total for a good, service or package will be, he can estimate the total by looking at the individual elemental costs.

Knowing how the total price breaks down is also a benefit in comparing prices and negotiating better rates. Sellers and providers also can use CBS to verify that they charged the client for everything. Moreover, it allows both companies and consumers to identify specific reasons for fluctuations in price.

Easy Project 2019 - CBS - Cost Breakdown Structure - budget of project

Easy Project 2019 - CBS - Cost Breakdown Structure - project budget

 

To learn more about Easy Project CBS feature, please read the feature article, the landing page, and the knowledge post.

 

Author: Lukáš Beňa

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