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Project Management For Profit vs. Every Other Project Management System

How Project Management For Profit Measures Up

You're probably thinking, "Just what the world needs: another scheduling/task management/budget tracking tool." But that couldn't be further from the truth.

Monitor a project's profitability in real time. Do not measure a project's profitability until the project is complete.
Maintain complete transparency throughout the entire life of the project. Only provide the partial transparency throughout the life of a project.
Always know the financial impact of scope, schedule and budget issues. Tend to manage scope, schedule, and budget, and then hope for the best regarding profitability.
Gain the ability to course correct an unprofitable project early. Do not provide the insight required to enable early course correction on unprofitable projects.
Keeping a project status up to date is easy, just a few simple tracking reports and weekly tallies. Have a myriad of different reports, graphs, charts and tables that require constant attention, monitoring, and updating to use accurately.
Complex project financial data is boiled down to a few easy-to-understand data points. Do not simplify financial data, and typically just ignore it all together.
Every team member knows the financial status of a project, and works together to ensure maximum profitability. Team members remain unaware of a project's financial status and are unable to work to improve it.

First, a word on what the PM4Profit system isn't. It isn't a magic project management software package, or a gimmicky new method of business accounting. It isn't a Gant chart creator or a 'critical path' tracking tool. The PM4Profit system is a combination of ‘team’ culture, simple yet comprehensive financial metrics, and disciplined application of tracking methodologies. With a particular focus on 'profits-earned vs. dollars and hours invested', the system delivers a running tally of your project's ongoing profitability throughout the life of the project. You can quickly calculate the value of every hour invested in the project.

For decades, project managers around the world have survived by carefully managing the "Big Three" project concerns: SCOPE, SCHEDULE, and BUDGET.

If the project manager was diligent with his administration of these concerns (and sometimes a little bit lucky), there should be a profit left over for his company at the end of the job. But the project manager often doesn't know for sure what the profits look like until a project is long over with and closed out. Wouldn't it be nice to know where your profitability stands at any given point during the project? Would that information affect decisions that are made regarding the project? Would your team execute differently if they had all the facts?

In the PM4Profit system, project managers still manage the Big Three concerns, but we've added a fourth concern to the list, and we've pushed it right up to number 1: PROFIT, SCOPE, SCHEDULE, and BUDGET.
 

"The Project Management For Profit system increased our annual profits by more than 25%."
- Blake Ferguson | President, Keylim.es Design
"We used to be unable to determine how much we made or lost on a job until after it was over. Now we know where we stand financially at every stage of every job. Having fresh financial metrics has given us the power to quickly address project financial issues before they become overwhelming."
- Stephanie Nix | President/Co-owner, Claude H. Nix Construction Co