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?
©2016 Deltek, Inc. All Rights Reserved 3
Project Settings
©2016 Deltek, Inc. All Rights Reserved 4
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)
6
Configuration/Accounting/System Settings
7
At what level do
you enter Fee
amounts?
Enabling this feature
will prompt you to run
a utility.
Contract Management
8
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?
©2016 Deltek, Inc. All Rights Reserved 9
iAccess Information
©2016 Deltek, Inc. All Rights Reserved 10
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
16
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?
©2016 Deltek, Inc. All Rights Reserved 25
Project Review
©2016 Deltek, Inc. All Rights Reserved 26
Accounting/Project Review
Project Info Center/Project Review
Accounting/Project Review Has Options
27
Options Can Affect Actual Amounts
28
Accounting/Project Review has Designer
29
Project Planning
(including iAccess
plan) is the default.
Info Center Designer
allows you to move
fields, change labels,
hide fields.
30
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.
31
Contract/Fee is from Budget & Revenue tab
32
Plan/Budget – defaults to show Planning/iAccess
33
34
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
35
Project Review/Cost Analysis
36
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
37
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
38
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
39
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
40
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?
©2016 Deltek, Inc. All Rights Reserved 41
Data Review and Correction
©2016 Deltek, Inc. All Rights Reserved 42
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
43
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
44
Missing or Inaccurate Billing Rates
45
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.
49
4) No Plan Amounts
Planned amounts
provide a baseline
and can estimate into
the future...
These require a plan
in iAccess or Project
Planning.
50
Questions about data problems?
©2016 Deltek, Inc. All Rights Reserved 51
What does the data tell us?
©2016 Deltek, Inc. All Rights Reserved 52
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?
©2016 Deltek, Inc. All Rights Reserved 60
Security
©2016 Deltek, Inc. All Rights Reserved 61
Security/General
62
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”.
63
Security\Accounting
Determine
access to AR
comments and
to Labor Cost
amounts.
64
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?
©2016 Deltek, Inc. All Rights Reserved 66
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
©2016 Deltek, Inc. All Rights Reserved 67
Please submit a survey for this session via the
mobile app.
69
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
Come visit the SilverEdge booth in the Expo Hall to discuss further!
©2016 Deltek, Inc. All Rights Reserved 70