Approval Routes
Approval routes are at the heart of Weissr Capex Management, streamlining and formalizing the entire approval process to match each project's unique requirements. These routes are designed to adapt to the specific approvals needed based on a project’s characteristics and complexity, ensuring an efficient and consistent workflow.
The Approvals Tab
Each project includes an Approvals tab that displays the current approval status, offering an at-a-glance view of the route’s progress. This tab outlines completed steps and highlights upcoming approvals, enabling stakeholders to track the project’s journey through its designated route seamlessly.
How Approval Routes Work
Structured Pathways
Approval routes serve as the predefined paths that guide projects through the necessary approval processes. Administrators set up these routes to align with an organization’s internal policies and approval procedures. Whether for straightforward, low-complexity projects or intricate, multi-phase initiatives, these routes provide a clear, efficient process from start to finish.
Key Participants and Roles
The approval process involves various stakeholders who play specific roles at different stages:
Project Leaders: Typically oversee the project and may initiate approval requests or manage the project's progress through the route.
Decision Makers: Assigned to specific steps within the route, they are responsible for reviewing and approving the project before it advances to the next stage.
Step Configuration and Permissions
Each step within an approval route is defined by specific criteria that determine who can act as the decision-maker:
Role-Based Permissions: Steps may require approvals from users with specific roles, such as department heads or senior managers.
Requested Amount Thresholds: Only decision-makers with authorization to approve projects above a certain financial threshold are eligible for specific steps.
Approval Route Workflow
Initiation: The project is submitted and assigned to an appropriate route based on attributes like Capex amount or project type.
Sequential Review: The project moves step-by-step through the route, where each designated decision maker reviews and either approves, rejects, or sends it back for revisions.
Criteria-Based Progression: Decision-makers must meet the specified criteria to approve each step, ensuring only authorized personnel are involved.
Final Approval: Upon completion of the final step, the project is ready to enter the Execution Phase.
Project Phases Beyond Approval
Execution Phase
After passing all approval steps, the project moves into execution, during which the requested funds are utilized. Actuals can be logged through ERP system integration or manual input, allowing for comparison between forecasted and actual expenditures. Once execution tasks are completed, the project advances to the Post-Completion Phase.
Post-Completion Phase
This phase involves evaluating the outcomes against initial goals, assessing adherence to the approved budget, and confirming whether the project was completed within the planned timeline. It serves as a learning opportunity to analyze project success and document insights. After review, the project transitions to a Completed State.
Completion State
At this stage, the project is fully approved and archived, signifying that it has passed all required steps and evaluations.