Implementing Project Portfolio Management: From Organization Structure to Recognized Revenue · Module 13 · Project Costing: Capture and Processing
Validation and adjustment
Lesson 136 of 198 · 13 min
Review unprocessed and rejected expenditure items, correct a rejected item and reprocess. Transfer an item from one project to another. Split an item across two tasks. Mark an item as non-billable and show the billing consequence. Show the audit trail of an adjustment, and the accounting reversal and reinstatement. ADJUSTMENTS ARE ROUTINE AND MUST BE AUDITABLE. Every transfer and split leaves a trail, because the auditor will ask. Transferring costs between projects is common at month end when somebody coded wrongly. Make sure the client knows it is possible AND who is allowed to do it — Module 2's segregation-of-duties conversation, made concrete. Marking items non-billable is how you write off unrecoverable time. It has a margin consequence and it needs a control.
The full lesson is part of the course
The video, the complete written lesson and the module quiz are included in Implementing Project Portfolio Management: From Organization Structure to Recognized Revenue, with a certificate on completion and a fourteen-day refund window.