What is meant by Where-used list?
"Where-used list" refers to the formal proof of the dedicated use of financial resources or funding according to specific guidelines or agreements. This primarily concerns the public sector, funding agencies, or organizations providing financial support that require precise documentation of fund utilization.
Typical features of software in the area of "Where-used list" include:
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Project Management and Monitoring:
- Capturing and managing project information, including budgets, funding, and project objectives.
- Monitoring progress and adherence to project goals.
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Expense and Cost Tracking:
- Recording and tracking expenses, costs, and investments within the project scope.
- Automatic allocation of costs to specific project expenditures.
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Documentation and Proof Management:
- Creation and management of documents for proof of fund utilization as per funding agency requirements or internal guidelines.
- Providing audit trails and ensuring revision security for all transactions.
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Reporting and Compliance:
- Generating reports on fund utilization, including detailed expenditure analysis and budget comparisons.
- Compliance with legal and regulatory requirements as well as specific funding conditions.
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Communication and Collaboration:
- Integration of communication tools for coordination with internal teams, funding agencies, and other stakeholders.
- Providing dashboards and notifications for current developments and deadlines.