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 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 row for each project task 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`.