Overview
Accessing a Project Report
Setting Up a Project Report
Downloading a Project Report
Explaining how indicators are calculated
Overview
To manage your firm’s profitability, it is necessary to measure two indicators: margin and utilization.
After configuring your project data in BigTime Foresight, you can quickly check these metrics in a project report. This report will provide you with essential knowledge about:
- Your project’s margin trend: is it increasing or decreasing?
- Profitability of your project
- Comparison of planned and recorded financial data (scheduled vs. actual).
Accessing a Project Report
To begin analyzing your financial indicators, first, ensure you have financial management permissions in Foresight. Then, go to the PROJECTS tab in your main navigation sidebar and open a project. Finally, go to the REPORT sub-tab. This is where you’ll be able to manage a project report.
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Make sure you have financial access ➡ Log in to the Manager Role ➡ Go to the PROJECTS Tab ➡ Find the project and click on it ➡ Once redirected to the project profile, go to the REPORT section
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Setting Up a Project Report
To prepare a project report, you’ll need to configure:
- Statuses of assignments. By default, assignments will be active. If you want to see reserved or draft, pick the proper statuses from the list at the top of the report:
- Default data and project duration. In the case of a project lasting several months, you can click on a given month on the chart, and the report will narrow down the data in the table.
Downloading a Project Report
You cannot download the project report from a Project profile. To download the report to an Excel or CSV file, follow these steps:
- Go to the REPORTS tab.
- Open the PROJECT FINANCES report. Configure your report with fields as you see fit.
- Find the EXPORT DATA button in the bottom right corner and click it. You can choose the format in which you want to export your report.
Explaining how indicators are calculated
We have collected formulas and explanations in the BUDGET tab in project profiles to help you understand how we calculate each value.
| NOTE: Explanations of how a given indicator is calculated are also provided as tooltips next to each indicator in the application. |
Place in the application |
Indicator |
How is it calculated? |
| Budget Tab in project profile | Cost in Summary (scheduled) | Cost (Scheduled) = Scheduled Cost of Staffer's Work* + Scheduled Project Overheads Cost |
| Budget Tab in project profile | Cost in Summary (actual) |
Cost (Actual) = Submitted Input Hours Cost + Committed Project Overheads Cost * The cost of logged working time is generated only based on time entries in the status submitted. |
| Budget Tab in project profile | Revenue in Summary (scheduled) | Income (Scheduled) = Scheduled Income of Staffer's Work* + Scheduled Project Income Overheads |
| Budget Tab in project profile | Revenue in Summary (actual) | Income (Actual) = Submitted Input Hours Income + Committed Project Overheads Income |
| Budget Tab in project profile | Profit in Summary (scheduled) | Profit (Scheduled) = Scheduled Income - Scheduled Cost |
| Budget Tab in project profile | Profit in Summary (actual) | Profit (Actual) = Actual Income - Actual Cost |
| Budget Tab in project profile | Work in Summary (Scheduled) | Work (Scheduled) = The Sum of Assignment Scheduled Work* |
| Budget Tab in project profile | Work in Summary (Actual) | Work in Summary (Actual) = The Sum of All Input Submitted Hours |
| Budget Tab in project profile ➡ Scheduled work ➡ Grouping by demand | Work for demand row |
Work for Demand = The Sum of Scheduled Hours in the Assignments added to the Demand / Sum of Scheduled Demand Hours * There may be several assignments per Demand |
| Budget Tab in project profile ➡ Scheduled work ➡ Grouping by demand | Avg Cost Rate for demand row | Avg Cost Rate for Demand = Cost Rate for All Scheduled Assignments / Scheduled Cost Rate in the Demand |
| Budget Tab in project profile ➡ Scheduled work ➡ Grouping by demand | Avg Bill rate for demand row | Avg Bill Rate for Demand = Bill Rate for All Scheduled Assignments / Scheduled Bill Rate in the Demand |
| Budget Tab in project profile ➡ Scheduled work ➡ Grouping by demand | Total cost for demand row | Total Cost for Demand = The Sum of Scheduled Total Costs in all assignments added to the Demand / Sum of Costs Scheduled in the Demand |
| Budget Tab in project profile ➡ Scheduled work ➡ Grouping by demand | Total revenue for demand row | Total Income for Demand = The Sum of Scheduled Total Income in All Assignments Added to the Demand / Sum of Income Scheduled in the Demand |
| Budget Tab in project profile ➡ Scheduled work ➡ Grouping by demand | Margin Rate for demand row | Margin Rate for Demand = Average Margin for All Assignments / Demand Scheduled Margin |
| Budget Tab in project profile ➡ Scheduled work ➡ Grouping by Team Members | Work for staff member row | Work of Staff Member = The Sum of All Scheduled Hours in Staffer’s Assignments* |
| Budget Tab in project profile ➡ Scheduled work ➡ Grouping by Team Members | Avg Cost Rate for staff member row | Avg Cost of Staff Member = Average Cost Rate for All Staffer’s Scheduled Assignments |
| Budget Tab in project profile ➡ Scheduled work ➡ Grouping by Team Members | Avg Bill Rate for staff member row | Avg Bill Rate of a Staff Member = Average Bill Rate for All Staffer’s Scheduled Assignments |
| Budget Tab in project profile ➡ Scheduled work ➡ Grouping by Team Members | Total cost for staff member row | Total Cost of Staff Member = Hours Scheduled in Staffer's Assignments* x Staffer's Cost Rate |
| Budget Tab in project profile ➡ Scheduled work ➡ Grouping by Team Members | Total revenue for staff member row |
Total Income of a Staff Member = The Sum of Scheduled Hours’ Income in All Staffer's Assignments* * Total Scheduled Income of a Staffer’s Assignment = Staffer’s Scheduled Hours x Bill Rate in the Billable Assignment |
| Budget Tab in project profile -> Scheduled work -> Grouping by Team Members | Margin for staff member row | Margin Income of a Staff Member = Average Margin of All Staffer’s Assignments |
| Budget Tab in project profile ➡ Actual work ➡ Grouping by Team Members | Work for staff member row |
Work of a Staff Member = The Sum of Input Hours in the Staffer’s Assignments * Remember that each time entry may have a different rate |
| Budget Tab in project profile -> Actual work -> Grouping by Team Members | Avg Cost Rate for staff member row |
Avg Cost Rate of a Staff Member = Average Cost Rate of All Staffer's Input Hours in Staffer’s Assignments * Remember that each time entry may have a different rate |
| Budget Tab in project profile ➡ Actual work ➡ Grouping by Team Members | Avg Bill rate for staff member row |
Avg Bill Rate of a Staff Member = Average Bill Rate for All Staffer’s Input Hours in Billable Assignments * Remember that each time entry may have a different rate |
| Budget Tab in project profile ➡ Actual work ➡ Grouping by Team Members | Total cost for staff member row |
Total Cost of a Staff Member = The Sum of Input Hours’ Cost in All Staffer's Assignments* * Total Cost of a Staffer’s Assignment = Staffer’s Input Hours x Cost Rate in the Billable Assignment |
| Budget Tab in project profile ➡ Actual work ➡ Grouping by Team Members | Total revenue for staff member row |
Total Income of a Staff Member = The Sum of Input Hours’ Income in All Staffer's Billable Assignments* * Total Income of a Staffer’s Assignment = Staffer’s Input Hours x Bill Rate in the Billable Assignment |
| Budget Tab in project profile ➡ Actual work ➡ Grouping by Team Members | Margin Rate for staff member row | Margin of a Staff Member = Average Margin of All Staffer’s Assignments |