This PPT slide, part of the 30-slide How to Run a Consulting Project PowerPoint presentation, emphasizes the importance of financial modeling in Excel to enhance budget oversight and adaptability in response to changing circumstances. It suggests a structured approach to managing project finances by differentiating between budgeted and actual expenses.

The first bullet point outlines the need to model budgeted fees and expenses according to specific assumptions integrated into the General Consulting Project Model (GCPM). Key components mentioned include staffing levels, bill rates, and hours worked per pay period. This structured modeling allows for a clearer understanding of projected financial performance.

The second bullet point focuses on the necessity of recording actual fees and expenses in a separate worksheet at the end of each pay period. It highlights the importance of obtaining this data from job summaries or through collaboration with finance personnel. This practice ensures that actual performance is tracked against budgeted expectations.

The slide also hints at additional metrics to consider, such as actual fees and expenses, client invoices, and variances between budgeted and actual figures. This comprehensive tracking not only aids in financial accountability, but also provides insights into discrepancies that may require attention.

Overall, the slide serves as a practical guide for executives looking to refine their financial management practices. By implementing these modeling techniques, organizations can gain better visibility into their financial health and make informed decisions to navigate potential challenges.

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Consulting Project Management Financial Management Project Finance Financial Modeling