Project WIP

Form ID: (PM651500)

Note:

This report is available only if the Projects group of features is enabled on the Enable/Disable Features (CS100000) form.

This work-in-progress report tracks the current progress and financial performance of projects. You can use this data to forecast future performance and to look at the percentage of completion and the cost to complete the project. The report also helps you to analyze whether a project is overbilled or underbilled in relation to its current progress of completion.

See the following section for a description of each parameter on the Report Parameters tab of the report form. For more information about using other elements on the report form, see Reports.

Report Parameters

On the Report Parameters tab, you use the following parameters to select the information to be displayed on the report:

Company/Branch: The company or branch for which you want to view information. You can select a company or make no selection to view information about all companies in the tenant.
By default, the system inserts the company or branch selected on the Company and Branch Selection menu.
Project: The project for which you want to view the work-in-progress report. You can select a project to view the report for only this project, or leave the box blank to view the report for all projects.
Status: The status of the projects for which you want to view the report, which is one of the following:
- Active (default)
- Completed
- Active and Completed
Exclude Projects Completed Through Date: The date the system will use to exclude from the generated report completed projects that have an End Date earlier than or the same as the date specified in this box.
From Period: The starting financial period of the range of periods the report will cover. By default, the current financial period is specified.
To Period: The ending financial period of the range of periods the report will cover. By default, the current financial period is specified.
Planned Cost Estimation: The source of the costs that the system will use to calculate report values. The following options are available:
- By Cost Budget (default): The system will use revised budgeted amounts of the cost budget lines for calculations.
- By Cost Projection: The system will use amounts from the last released cost projection for calculations.
Actuals to Period: The period that the system will use for the calculation of actual values in the report. By default, the current financial period is specified. The system will show project transactions for the projects that have a start date earlier than or within the specified period. These project transactions will be included in the Costs to Period and Billings to Period columns of the report.
Include Potential CO Amounts in Revised Amounts: A check box that you select to include change orders that have the Open status in the revised amounts.

Generated Report

This section describes some key elements of the generated report to help you use this report successfully. The row for each project includes the columns whose values are described below.


Column Group	Column	Value	Comments
	Projected Cost at Completion	The projected cost at completion for the cost budget lines, which the system calculates by using the following formula: `Projected Cost at Completion = SUM (Projected Cost at Completion) + SUM (Revised Budgeted Amount)`.	The system uses `Projected Cost at Completion` in calculations for the cost budget lines that have a corresponding cost projection revision. For the lines that do not have a cost projection revision, the system uses `Revised Budgeted Amount`.
	Est. Gross Profit	The estimated gross profit amount, which the system calculates by using other values of the report in the following formula: `Est. Gross Profit = Revised Contract Amount – Revised Estimated Costs`.
	Est. Gross Profit %	The estimated gross profit percentage, which the system calculates by using other values of the report in the following formula: `Est. Gross Profit % = Est. Gross Profit / Revised Contract Amount`.	If Revised Contract Amount is 0, Est. Gross Profit % is also set to 0.
Actual	Period Costs	The turnover cost amount for the specified period, which the system calculates by using the following formula: `Period Costs = SUM (Amount)`, where `SUM (Amount)` is the sum of the amounts of the relevant expense project transactions on the Project Transactions (PM304000) form.	The period of calculation is defined by the From Period and To Period report parameters. The amount is calculated in the project currency.
Actual	Costs to Period	The turnover cost amount from the start of the project through the end of the specified period, which the system calculates by using the following formula: `Period Billings = SUM (Amount)`, where `SUM (Amount)` is the sum of the amounts of the relevant expense project transactions on the Project Transactions (PM304000) form.	The period of calculation is defined by the Start Date of the project, which is specified on the Summary tab of the Project Transactions (PM304000) form, and the Actuals To Period report parameter. The amount is calculated in the project currency.
Actual	% Budget Used	The percentage of budget usage, which the system calculates by using other values of the report in the following formula: `% Budget Used = Actual Period Costs / Estimated Costs Revised`.	The calculated value may exceed 100%.
Actual	% Completed	The percentage of budget completion, which the system calculates by using other values of the report according to the following formula: `% Completed = Actual Costs to Period / Estimated Costs Revised`.	If the calculated value exceeds 100%, % Completed is set to 100.
Actual	Period Billings	The turnover revenue amount for the specified period, which the system calculates by using the following formula: `Period Billings = SUM (Amount)`, where `SUM (Amount)` is the sum of the relevant project transactions with the AR type on the Project Transactions (PM304000) form.	The period of calculation is defined by the From Period and To Period report parameters. The amount is calculated in the project currency.
Actual	Billings to Period	The turnover revenue amount from the start of the project through the end of the specified period, which the system calculates by using the following formula: `Period Billings = SUM (Amount)`, where `SUM (Amount)` is the sum of the relevant project transactions with the AR type on the Project Transactions (PM304000) form.	The period of calculation is defined by the Start Date of the project, which is specified on the Summary tab of the Project Transactions (PM304000) form, and the Actuals To Period report parameter. The amount is calculated in the project currency.
	Revenue Recognized	The revenue recognized amount, which the system calculates by using other values of the report in the following formula: `Revenue Recognized = % Completed * Revised Contract Amount`.
	Gross Profit	The gross profit amount, which the system calculates by using other values of the report in the following formula: `Gross Profit = Revenue Recognized – Actual Costs to Period`.
	Billing in Excess of Cost	The overbilling amount, which the system calculates by using other values of the report in the following formula: `Billing in Excess of Cost = Billings to Period – Revenue Recognized`.	If the calculated value is less than zero, Billing in Excess of Cost is set to 0.
	Cost in Excess of Billings	The underbilling amount, which the system calculates by using other values of the report in the following formula: `Cost in Excess of Billings = Revenue Recognized – Billings to Period`.	If the calculated value is less than zero, Cost in Excess of Billings is set to 0.
Forecasted	Revenue Backlog	The forecasted revenue amount, which the system calculates by using other values of the report in the following formula: `Revenue Backlog = Revised Contract Amount – Revenue Recognized`.
Forecasted	Gross Profit Backlog	The forecasted gross profit amount, which the system calculates by using other values of the report in the following formula: `Gross Proft Backlog = Est. Gross Profit – Gross Profit`.
	Remaining Contract	The remaining contract amount, which the system calculates by using other values of the report in the following formula: `Remaining Contract = Revised Contract Amount – Billings to Period`.