vi-46 tune up your project management with vision · vi-46 tune up your project management with...

VI-46

Tune Up Your Project

Management with Vision

Deb Eastberg

Senior Consultant

SilverEdge Software Systems, Inc.

Let’s Make You the Hero

Give Project Managers:

• Access to information without printing a report

• Summarized Data (with ability to drill down if needed in Project

Review)

• Accurate data – Numbers are accurate and meaningful

©2016 Deltek, Inc. All Rights Reserved 2

Agenda

Project Settings

iAccess Information

Project Review

Data Corrections

What can it tell your PM?


Project Settings


Budget & Revenue/Fee amounts

Fee amounts

from all WBS

levels pass to

iAccess

Where do Budget & Revenue compensation amounts come from?

Manually entered:

At any level

At the bottom level (and will roll up to higher levels)

Updated from Contract Management:

Include in Fee checkbox will update the Compensation amounts:

– At any level

– At the bottom level (and will roll up to higher levels)

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Configuration/Accounting/System Settings

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At what level do

you enter Fee

amounts?

Enabling this feature

will prompt you to run

a utility.

Contract Management

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If you synchronize Contracts to Fees

this box will appear. If “Include in

Fees” is checked then amounts will

update Budget & Revenue values.

Questions about Project Settings?


iAccess Information


iAccess – You Own It

Included in Vision

Project Info Center link

Separate URL

– Provided if in the Cloud

– On Premise: Your IT

person will need to set

this up.

iAccess Project Management Workspace

iAccess – what comes from Project Info Center?

Project Name

Project Number

Contract Start and End Dates

Status

Project Manager

Client (Primary)

Project Work Breakdown Structure (WBS1 – WBS3)

Contract Amounts (Budget & Revenue tab)

Nothing can be done in iAccess that will change the

Project Info Center data.

Metrics in iAccess

Contract = Total Compensation (Budget & Revenue

tab)

JTD = Job-to-date Labor, Consultant and Expenses

at cost (no overhead) or at bill rates.

Includes unposted labor and Committed Purchase

Orders.

ETC = Planned cost or bill value in the future

EAC = JTD + ETC

Metrics in iAccess

Target Multiplier = Assigned in Plan Settings

Labor EAC Multiplier = Labor Contract / Labor

EAC Cost

(This multiplier is updated as the plan is created

or modified.)

Depending on Security, iAccess can show Cost or Billing Values

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Project Plan Summary at Billing

JTD + ETC = Estimate at

Complete (EAC)

How close are we getting to

the contract amount?

Project Plan Summary at Cost

JTD Cost + ETC Cost + EAC

Overhead = Estimate at

Complete Profit

The profit will expand or

shrink based on actual

activity and planned

amounts.

Overhead =

Actual OH +

current

estimated

amount +

Future

Estimated

amounts

Labor Plan Timeline (Billing)

Estimated Earned is %

Complete x Contract amount.

% Complete is usually

Job-to-Date/(Estimate at

Complete)

Estimated Earned @ Billing

iAccess attempts to show Earned Value without having to enter EV % each

month. The percent complete is multiplied by the contract to determine an

estimated amount of the contract that would be earned for the period.

% Complete = Job-to-Date/(Job-to-Date + Estimate to Complete)

Estimated Earned = % Complete * Labor Compensation

How does this compare to Actual Spent and Planned Spent? Are you ahead or

behind schedule?

If there is no planned amount the Estimated Earned is not displayed.

Swapping Dashparts

21

Planning Tab (even without a plan)

Project Managers can

review JTD hours and

amounts.

Graphs and amounts on

the Planning tab display

for each WBS level.

Project

Managers can

create a Plan if

desired.

Planning Tab Options

23

InvoicesProject Managers can see:

• Preview of Invoice

• Collection Comments

• Total Billed

• Average Collection Days

• Last Payment Date

• Outstanding Balance

• Retainer Amounts

• Contact Information

• Client Address

Questions about iAccess?


Project Review


Accounting/Project Review

Project Info Center/Project Review

Accounting/Project Review Has Options

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Options Can Affect Actual Amounts

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Accounting/Project Review has Designer

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Project Planning

(including iAccess

plan) is the default.

Info Center Designer

allows you to move

fields, change labels,

hide fields.

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Project Review/Cost & Billing Analysis

Use tabs to switch

between Cost or

Billing.

Compare contract to

budget to actual

Drill down into greater

detail.

All information is available for each level of the project.

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Contract/Fee is from Budget & Revenue tab

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Plan/Budget – defaults to show Planning/iAccess

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Actual = Posted +

Unposted

(depending on options)

Earned Revenue

Earned Revenue = JTD Revenue through the

current period

JTD Revenue could equal JTD Billed

JTD Revenue could be Billed + Unbilled or

some other calculation

Revenue Generation method and how often

this process is run will affect Earned

Revenue

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Project Review/Cost Analysis

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Planned Multiplier = (Total Compensation - Planned Direct and

Reimbursable Expenses) / Planned Labor Cost

Effective Multiplier =Net Revenue / Direct Labor

Net Revenue = Earned Revenue - (Direct Expense, Direct consultant,

Reimbursable Expense, and Reimbursable Consultant)

Project Review\Cost Analysis

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Earned Revenue = Actual JTD earned revenue through the current

period

Actual Cost = JTD Cost through period (including OH)

Actual Profit = Earned Revenue - Actual Cost

Profit % = Total Profit / Total Earned

Project Review\Billing Analysis

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Planned Ratio = Total Compensation – (Planned Direct and

Reimbursable Expenses) / Planned Labor

Realization Ratio = Total Earned Value / Total Actual Billing Value

Planned Variance = Total Contract Compensation - Total Planned

Project Review/Billing Analysis

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Earned Revenue = Actual JTD earned revenue through the current

period

Actual Bill Value = Actual JTD spent at bill rates through the period

Actual Variance = Total Earned Revenue - Actual Bill Value

Actual Variance % = Total Variance / Total Earned

Project Review/Accounts Receivable

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Project Managers can see:

• Preview of Invoice

• Collection Comments

• Total Billed

• Average Age

• Last Payment Date

• Outstanding Balance

• Retainer Amounts

• Contact Information

• Client Address

Questions about Project Review?


Data Review and Correction


1) Accurate Amounts for Actual Activity – Cost

Verify Cost Rates at time of Posting

Thoroughly review the Time Record Posting Log immediately after posting

Look for low or high amounts

Compare totals with prior period totals

Use Undo Posting ONLY on records that were just posted.

Use Labor Adjustments to correct costs if undo posting is not possible

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2) Accurate Amounts for Actual Activity – Billing

Verify Billing Rates on posting reports or Labor Detail Report

Rates are most often wrong because:

Billing terms were not set up at the time of posting

Billing Terms have changed

– Billing Report/Missing Billing Terms

– Use Refresh Billing Extensions to correct rates

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Missing or Inaccurate Billing Rates

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Corrected Billing Terms = Interactive Billing is updated instantly. Reports are not.

Refresh Billing Extensions

Limit the projects affected.

Which accounting periods?

Unbilled Only?

Project Plan Summary at Billing

Billing Rates are used for

JTD Spent @ Billing and are

stored on the time records.

Make sure this box reflects a

realistic number.

Planned Billing rates use the

Billing Rate schedule

attached to the plan.

3) No Compensation Amounts

Compensation

amounts on the

Budget & Revenue

tab are the simplest

type of budget.

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4) No Plan Amounts

Planned amounts

provide a baseline

and can estimate into

the future...

These require a plan

in iAccess or Project

Planning.

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Questions about data problems?


What does the data tell us?


Target Multiplier

Defined by you

Assigned within the Plan Settings (either iAccess or Planning)

Can be changed in iAccess Settings or on the Project Plan

Displayed in iAccess

Effective Multiplier

Generated based on Cost Rates. The effective multiplier is the net

revenue earned for each labor dollar expended.

Vision calculates the effective multiplier as follows:

Net Revenue / Direct labor at cost rates

Net Revenue = Total revenue – (Non-labor direct expenses +

Reimbursable expenses)

Planned Multiplier

This field displays the planned multiplier for cost, which helps you evaluate how

much revenue a plan will return per unit of labor cost. Vision calculates the

multiplier as follows:

(Total Compensation – Planned Direct and Reimbursable Expenses) /

Planned Labor Cost

Labor EAC Multiplier

This field helps you evaluate how much labor revenue a plan will return per unit of

labor cost based on actual activity and projected activity. Vision calculates the

multiplier as follows:

Labor contract = Direct labor from the Budget & Revenue tab

Labor Contract / (JTD Cost + ETC Cost)

or

Labor Contract / EAC labor

Multipliers

Target Multiplier = Goal

Planned Multiplier = estimated multiplier based on planned (Before)

EAC Multiplier = estimated from JTD activity and future planned activity

(During)

Effective Multiplier = Estimated based on where you are right now

(midway through a job or after)

Questions about multipliers?


Security


Security/General

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Grant access to Project Review

through Accounting/Project Review

Security\Record Access

Record Level View: In

Use

Project Manager can

only see certain

projects, such as

“Project Manager is

me”.

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Security\Accounting

Determine

access to AR

comments and

to Labor Cost

amounts.

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Security\iAccess

iAccess has its own tab of

settings

Looking at a project and

planning a project can be

separate settings in iAccess.

Questions about security?


You are the hero!

Give Project Managers:

• Access to information without printing a report

• Summarized Data (with ability to drill down if needed in Project

Review)

• Accurate data – Numbers are accurate and meaningful


Please submit a survey for this session via the

mobile app.

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Learn More

Get plugged in

• Join a user group (regional, virtual)

• Interact in Kona – Client Advisory Council

(CAC) and more! ([email protected])

• Join the MVP program

Visit the Vision kiosks in the Expo Hall

Follow the Vision Blog @ http://bit.ly/Vision_Blog

Attend a live VPM, CRM, Resource Planning,

demo or sign up for an upcoming webinar at

Deltek.com

mailto:[email protected]

http://bit.ly/Vision_Blog

Come visit the SilverEdge booth in the Expo Hall to discuss further!


vi-46 tune up your project management with vision · vi-46 tune up your project management with...

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