Period End Close

Period End Close

The closing of a period allows the consolidation of actual values’ information between two dates.

Period closings will accumulate the costs and revenues corresponding to the reported efforts, paid purchases, and realized revenues within the selected period.

Costs and revenues are considered actual values in the following cases:

  • When efforts are reported or accepted by a user with an associated professional profile (defining their hourly cost), the cost proportional to the reported or accepted hours will be considered actual values.
  • When the status of a purchase/revenue is any of those defined as Actual Value (which can be customized in the purchases/revenues area of the ‘Parameters’ submenu within the ‘Configuration’ menu), the value defined as actual will be considered as such in the project budget.

Cash or treasury movements typically occur on specific dates, such as the end of the month. To monitor these transactions, performing Period Closings is advisable.


Once the period is closed, hours can no longer be reported within it, and the budgets of the affected projects will show the consolidated values up to the last closing.

Period closings will generate closing documents that represent the worked hours and their cost/rate for each provider, plus an additional one for the internal team.


During the closing process, you can choose the providers and individuals who will be affected. If you want to close for both external personnel (providers) and internal personnel (employees), choose “all.”

In the closing document, you can choose to make adjustments, which can be useful to inform providers about what they should invoice, in case they invoice by the hour.

You may also be interested in reading Professional Profiles and Standard Costs.

Webinar: Financial Management

ITM Platform PPM Product Demonstration

ITM Platform PPM Product Demonstration

Main features of ITM Platform, the PPM software that aligns your project portfolio with the business strategy.

Your team will learn how to manage all the management tools of their work in one day, offering portfolio managers the metrics that really matter.

Configuration, training, and deployment are done in less than two weeks.

ITM Platform Configuration

ITM Platform Configuration

Course Content:

  • Organization data
  • Communication settings
  • Organizational units
  • Profiles and rates
  • Role definition
  • Calendar – working days and hours
  • Main entity parameters (projects, services, purchases…)

AI-Generated Tasks

AI-Generated Tasks



Whether directly with a prompt or through a meeting transcript, ITM Platform can generate a task list to help you easily create work plans.


How to Use the AI-Generated Tasks Feature

  1. From any section of the project where you can create tasks, select “Generate an action plan based on a prompt.” A magic wand symbol usually represents this option. For example:
    Task List
    Agile Panel
    ES panel agil
  2. You will see a text box where you can type or paste content on which you want the system to generate a task list. You can also retrieve the last prompt.
  3. You can select the generated tasks that interest you and record them. There are some differences depending on the type of project or where you have generated the list:
    • From the Gantt, tasks and their dependencies will appear directly on it, giving you the opportunity to modify what you need before recording.
    • From the task list and the agile panel: a dialog box will be offered to select the tasks you want to include. Depending on whether it is an agile or predictive (waterfall) project, dependencies and other features dependent on the project management model will be shown.
      EN Task selection

How It Works in the Background

The AI task generation function works by:

  • Capturing, processing, and sending the prompt to the AI model along with instructions to generate a work plan.
  • Data processing: The AI data is processed by the ITM Platform, adding information that does not require AI, such as dates, dependencies, or basic characteristics of the tasks.
  • Approval and saving: The user can review and accept this plan before recording.


Security and Data Handling

  • Third-party AI systems: We use advanced AI systems like Azure AI and OpenAI for processing.
  • Data anonymity: Identifiable company data or project names are not shared. Ensure the prompt does not include compromising information, as this content is beyond ITM Platform’s control.
  • Encryption and privacy: All communications are encrypted. There is no data retention in third-party services, nor is your data used to train other models.
  • Supervision and labeling of sensitive content. If offensive or inappropriate material is identified, the provided content is carefully examined and marked.

The AI task generation feature on ITM Platform facilitates the creation of work plans and can synthesize a large amount of information into clear and concise action points.