To ensure your Retainers are being managed effectively, CMAP provides important metrics. This lesson explains how to use these metrics to monitor the Retainer project.
Step 1: Go into the Projects tab, find the Retainer project and click it.
Once you’re in the Retainer there are several places you can assess its performance:
1. The Project Details Page
2. The Budget vs Actual Page
1. The Project Details Page
On the Project Details page you will notice some key metrics in the right-hand column…
More Information details:
• Project Created By – The user that Added the Retainer and the date
• Project Won By – The user that Won the Retainer and the date
Retainer Overview details:
• Original Value – The sum of the Retainer Value and Additionals entered when adding the Retainer into CMAP
• Total Childs Projects Value – The sum of all the projects linked to the Retainer
• Total Used (% complete) – The value of linked projects that can be recognised based on the Progress Percentage Completes
• Remaining in Retainer – The value of the Retainer left to be covered by projects
Amalgamated Story So Far details:
• Fee – The sum of all the linked projects Budget and Actual time costs to date
• Additionals – The sum of all the linked projects Budget and Actual additional costs to date
• Total – The sum of all the linked projects Budget and Actual time and additional costs to date
• Percent Complete – The amalgamated Percent Complete of projects linked to the Retainer
• Percent Time Used – The amalgamated Percent Time Used of projects linked to the Retainer
• Projected Recovery Rate – The amalgamated Projected Recovery Rate of projects linked to the Retainer
2. The Budget vs Actual Page
On the Budget vs Actual page you will see budget vs actual bar charts for each of the projects linked to the Retainer.
In the Budget vs. Actual Breakdown you will see figures for:
• Progress – The Percent Complete of the project
• Budget Hours – The total number of hours that have been budgeted for the project
• Budget Value – The total value of the hours that have been budgeted
• Actual Hours – The total hours that have been booked to the project in the timesheet
• Actual Value – The total value of the time that has been booked to the project in the timesheet
In Additional Costs you will see figures for:
• Addition – A description of the Additional Cost
• Cost Price – The price to the business of the Additional Cost
• Sale Price – The sale price to be charged the client of the Additional Cost
• Actual Price – The actual price of the Additional Cost
In Expenses you will see figures for:
• Resource – The user the expense item relates to
• Date – The date the expense item was incurred
• Description – A description of the expense item entered by the user
• Status – The approval/payment status e.g. 'Awaiting FIN Approval', 'Awaiting Payment', 'Paid', etc.
• Currency Symbol – The value of the expense item in the default currency
NOTE: The Project is a link in each of these areas, click it to be transported straight to the Budget vs Actual of that particular project.
Comments
0 comments
Article is closed for comments.