Project WIP Detail

Form ID: (PM652500)

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 of project tasks, as well as their financial performance within the specified period of time and at different cost detail levels. In addition to showing the contract amounts, estimated costs, committed costs, actual costs, and forecasted revenues. the report also shows the estimated gross profit and the remaining contract amount for each project task. The report also helps you to analyze whether particular project tasks are overbilled or underbilled in relation to the current progress of completion of these tasks.

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:

  • Level of Details: The cost detail level to be presented in the report. The following options are available:
    • Cost Code (default): The system will include cost code details in the report.
    • Account Group: The system will include account group details in the report.
    • Account Group + Cost Code: The system will include both account group details and cost code details in the report.
  • Project: The project for which you want to view the work-in-progress report.
  • 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.

The Generated Report

This section describes some key elements of the generated report to help you use this report successfully. The header of the report shows the following rows.

Section Column Value Comments
Projected Cost at Completion The projected cost at completion for cost budget lines, which is calculated according to 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 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 is calculated based on other values of the report according to the following formula:

Est. Gross Profit = Revised Contract Amount – Revised Estimated Costs
Est. Gross Profit % The estimated gross profit percentage, which is calculated based on other values of the report according to the following formula:

Est. Gross Profit % = Est. Gross Profit / Revised Contract Amount

 If Revised Contract Amount equals zero, Est. Gross Profit % = 0
Actual Period Costs The turnover cost amount for the specified period, which is calculated according to the following formula:

Period Costs = SUM (Amount),

where SUM (Amount) is the sum of amounts of the 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 project currency.
Actual Costs to Period The turnover cost amount from the start of the project through the end of the specified period, which is calculated according to the following formula:

Period Billings = SUM (Amount),

where SUM (Amount) is the sum of amounts of the 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 project currency.
Actual % Budget Used The percentage of budget usage, which is calculated based on other values of the report according to 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 is calculated based on other values of the report according to the following formula:

% Budget Used = Actual Costs to Period / Estimated Costs Revised

 If the calculated value exceeds 100%, % Completed=100.
Actual Period Billings The turnover revenue amount for the specified period, which is calculated according to the following formula:

Period Billings = SUM (Amount),

where SUM (Amount) is the sum of the 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 project currency.
Actual Billings to Period The turnover revenue amount from the start of the project through the end of the specified period, which is calculated according to the following formula:

Period Billings = SUM (Amount),

where SUM (Amount) is the sum of the 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 project currency.
Revenue Recognized The amount, which is calculated based on other values of the report according to the following formula:

Revenue Recognized = % Completed * Revised Contract Amount
Gross Profit The amount, which is calculated based on other values of the report according to the following formula:

Gross Profit = Revenue Recognized – Actual Costs to Period
Billing in Excess of Cost The overbilling amount, which is calculated based on other values of the report according to 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 = 0.
Cost in Excess of Billings The underbilling amount, which is calculated based on other values of the report according to 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 = 0.
Forecasted Revenue Backlog The forecasted revenue amount, which is calculated based on other values of the report according to the following formula:

Revenue Backlog = Revised Contract Amount – Revenue Recognized
Forecasted Gross Profit Backlog The forecasted gross profit amount, which is calculated based on other values of the report according to the following formula:

Gross Proft Backlog = Est. Gross Profit – Gross Profit
Remaining Contract The remaining contract amount, which is calculated based on other values of the report according to the following formula:

Remaining Contract = Revised Contract Amount – Billings to Period