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 group, company, or branch for which you want to view information. By default, the current company or branch is selected. You can leave the default value or select a company group, company, or branch to view the report for it.
  • 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.

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 Period Costs / 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 = % Budget Used * 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 – Period Costs (Actual)
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