Project Controls

Do your finance and accounting functions align with your projects? They should.

Project-centric organizations such as government contractors, construction companies, and architect firms, know that success relies on ensuring projects are delivered on time and on budget. Having project controls in place helps companies monitor the status of a project to make sure that goals are being met—both from a timeline and financial perspective.

Typically, project-centric organizations track costs by project, recognize revenue by project, and ultimately, project performance and profitability drives the overall organizational structure. While many large project-based companies organize their internal finance and accounting department where project controls is a specific function, many smaller companies have accounting-centric solutions where the focus is on the past performance of a contract, not the future performance.

At Rose Financial Solutions (ROSE), we align our finance and accounting functions in the same manner in which larger project-centric government contractor clients operate. Through Project Controls, small- and mid-sized government contractors can gain the project control capabilities that large firms have embedded in their finance and accounting systems.

Combining people + processes + technology, our project controls solution not only provides the interface between your traditional accounting function, contracts, executive management and your project manager, our team has the knowledge and expertise to help navigate government contracting requirements and regulations.

Project Controls Includes:

Job/Project Reporting

Preparation of Client Required Supporting Schedules or Deliverables

Contract/Grant Reporting

Review of Contract and Grant Briefs (Including Modifications)

Project and Workforce Setup and Maintenance

Project Performance, Profitability and Analysis

Calculate Indirect Rates and WRAP Rates Monthly

Add Ons

Preparation of Contract Briefs (Including Modifications)

Monitor Contracts (Limitation of Funds and Period of Performance)

Provide Required Contract Information to Assist in Timely and Accurate Invoicing to the Client

Perform Accounting and Administrative Review of Invoices prior to Submission to the Client

Project Optimization

Project Controls Advantages:

Greater visibility into project performance— from both a timeline and financial perspective

Enhanced ability to perform Estimates to Complete

Better progress monitoring capabilities also known as earned value analysis (EVA). This can reduce cost overruns and is used for progress monitoring at every step of the contract

Improved profitability of projects over the life of the engagement

Accounting functions that are aligned with contracts and operations

Increased accuracy and lower rejection rates on invoices that are submitted to customers

Increased cash flow by reducing the amount of time for accounts receivables to be collected

Improved cost reconciliations and contract compliance including reduced cost and burden in preparing Incurred Cost Submissions

Achieve More with Financial Confidence™

At ROSE, we position our clients for project success. Our Finance as a Service (FaaS) solution provides you with the capabilities of an entire in-house finance, accounting, and tax department at a fraction of the cost. Going beyond traditional accounting outsourcing, ROSE’s solution combines our cutting-edge technology platform, Easby™ powered by RFSWorkflow™, and our team of experienced finance, accounting, tax, and technology professionals. With the best people + processes + technology, we help our clients achieve more with financial confidence.

Find out more on how Project Controls can align your finance, accounting, contract, and project management functions for project and firm-wide success.

GovCon’s with Earned Value Management System (EVMS) Requirements

We’ve found that contractors that work on large scale software implementation projects, as your business grows the need or requirement for an Earned Value Management System (EVMS) arrives. ROSE EVMS Specialized Project Controls Solution (EVMS PCS) can assist organizations with EVMS requirements covered ANSI/EIA 748 to ensure that organizations organize, track and report project performance consistent with the requirements outlined under the standard.

ROSE’s EVMS PCS focuses on five primary areas of project performance to ensure that organizations comply with all contractual requirements:

ROSE assists in the development of a detailed project structure that allows for the contractor to capture, track and report costs and schedule consistent with the customer requirements.

ROSE works with the project staff to develop a detailed schedule and budget that breaks out the timeline and detailed cost estimates for each of the tasks and sub-tasks under the overall project structure.

ROSE through its fully integrated Easby powered by RFSWorkflow Finance as a Service solution, ensures that all costs are captured consistent with the detailed project plan and schedule.

ROSE’s EVMS PCS works with the project team in the preparation and presentation of the reporting of actual results against the originally defined budget and schedule. All variances are identified and ROSE works with the project team to document and explain any variances to the customer.

The ROSE EVMS PCS assists the project team with tracking all revisions and approved changes to the budget and schedules and tracks the revision history to assist in the reconciliation for the client.

ROSE’s EVMS PCS augments and supplements an organization’s existing structure to allow for organizations to navigate and successfully perform under the complex and convoluted EVMS requirements placed on large scale government system implementation projects and construction companies.

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