Method123 Ltd

Method123 Ltd

October 26, 2009 11:15 ET

Keep Abreast of Project Expenses

LA HABRA, CALIFORNIA --(Marketwire - Oct. 26, 2009) - Running projects can be costly according to Method 123 Ltd, leaders in online Project Management Templates.

Making sure project managers keep track of project expenses is crucial says Jason Westland, CEO of Method 123 Ltd.

"There are many different types of costs associated with projects from buying products and services to travel and entertainment expenses," he says. "It's important to keep on top of what is being spent and ensure that all costs are recorded, reviewed and approved."

"Ensuring each member of the project team regularly completes an Expense Form is an easy way to do this."

Expense forms help project managers monitor and control expenses incurred by their teams. Staff can record their expenses so that managers are able to review and approve them.

The expense form available from Method123 helps to keep a track of business expenses including contractor, supplier, equipment, materials and administration expenses, implement an approval process for all expense items, gain special approval for large items, inform managers of expense issues and ensure you remain within budget. It enables you to record the activity against which the expense has occurred, the type of expense, the date of the expense, as well as invoicing and approval information.

The expense form is part of the comprehensive Project Management Kit offered by Method123 and should be completed during the project execution phase of the project life cycle. The kit includes all of the project management templates and tools needed to successfully deliver projects. It comprises hints and tips, real-life examples, charts and tables that cover every activity in the project lifecycle from initiation to planning, to execution, to closure.

Expense tracking Project Management Software is now also available at Method123's sister site This smart software enables project managers to identify, monitor and report on project expenses. They can enter any type of expense, manage recurring expenses, schedule one-off payments, report on project expenditure and keep their projects under budget. The in-built expense tracking form allows them to automatically calculate the cost of resource based on their unit cost and the amount of time they spend completing tasks. By tracking expenditure throughout the duration of the project, a project manager can easily ensure the project stays within budget.

Method123 also provides Project Management Methodology and project management software, which combined with its Project Management Template package, present a unique and compelling offering to project managers across the globe.

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