The SOV module extracts budget allocations for WBS work items from the project's budget, along with the planned execution timelines of those items from the schedule planner. It compiles this data into a detailed "Planned SOV" report, which breaks down cost values and projected payments for each budget line item across successive months, spanning the entire project timeline. This report provides general contractors with a clear forecast of expected monthly cash flow, serving as a vital tool for financial planning. Additionally, it establishes a baseline for tracking actual expenditures against the plan, enabling contractors to assess the project's financial health, anticipate risks, and make informed decisions to maintain control over the budget.
To view the planned SOV for the project
- Open the 'SOV' > 'Planned SOV' screen. To do so:
- Ensure that you are on the management console of the project
- Click the app launcher on the top-right and select 'Finance'
- Click 'SOV' on the top, then select 'Planned SOV' from the options on the left
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