Project progress

This chapter describes the process to track the progress of projects.

The Project Progress functionality involves performing these significant tasks to track the progress of a project:

• Registering progress based on elements, activities and extensions

  Progress can be registered manually based on elements, activities and extensions. The levels which are relevant, are defined on the project. You can also generate the progress from the related data or the progress data of the project plan as defined in Project Planning.

• Registering cost and commitments

  You can register actual costs and commitments. An issued order or registered receipt is a commitment, and is recorded in the commitment accounting system till the corresponding invoice is generated. You can specify the actual quantities used and amounts spent for the calculation of the unit cost. This information can also be registered in packages such as Financials, Procurement, Warehousing, Manufacturing, and People..

  You can add indirect costs using cost and revenue surcharges. If unit costs and commitments result from the actions performed in Financials or Procurement, the integration of these transactions takes place automatically.

• Registering revenues

  You can register all revenues for a project manually or the revenues can be registered when the project contract is invoiced. Revenues are generated and become available in Project when invoices are printed in Invoicing.

• Managing Fluctuation settlement

  Invoicing can be based on scope changes in wage rates, material prices or quantities. You can maintain these changes by date. When there is a contract extension, you can generate periodic reports and invoices based on this information and registered costs. In addition, you can display entries and generate invoices for provisional amounts and quantity fluctuations.

• Inspecting financial results

  You can inspect financial results while a project is in progress. For example, you can examine the profit or loss posting at the end of a financial year.

• Adding unit costs/revenues in Financials

  You can add the unit costs and revenues related to the work in progress for one or all projects, or completed projects, as journal entries in Financials.