Understand time-phased data fields
Standard Work Item Fields
The table below describes the fields used in AdaptiveWork for Financial Planning and include manually-entered fields and calculated (‘formula-based’) KPIs.
|
Field |
Definition |
From Financial Plan |
Can be Manually Set |
Formula-Based |
|
Budgeted Amount |
A top-down budget amount total. The amount allocated to the Project. |
|
✓ |
|
|
Budgeted Cost |
A rolling-up cost field. Also known as Budget at Completion. (Planned Work * Hourly Cost Rates) + Non-Labor Budget Costs |
✓ |
✓ |
|
|
Budget Variance |
Budgeted Amount - Budgeted Cost |
|
|
✓ |
|
Actual Cost |
Work Item progress + Non-Labor Actual Costs |
✓ |
✓ |
|
|
% Invested |
(Actual Cost / Budgeted Cost) % |
|
|
✓ |
|
Expected Revenue |
(Planned Work * Hourly Billing Rates) + Billable Non-Labor Budget Revenue |
✓ |
✓ |
|
|
Actual Revenue |
(Timesheets Duration * Hourly Billing Rates) + Billable Non-Labor Actual Revenue + Actual Billed Expenses |
✓ |
✓ |
|
|
Remaining Budget |
Budgeted Amount - Actual Cost |
|
|
✓ |
|
Cost Balance |
Budgeted Cost - Actual Cost |
|
|
✓ |
|
CPI |
Cost Performance Index. Earned Value / Actual Costs |
|
|
✓ |
|
SPI |
Schedule Performance Index. Earned Value / Planned Value |
|
|
✓ |
|
Planned Value |
Expected Progress * Budgeted Cost. This is not displayed but is calculated on a daily basis. |
|
|
✓ |
|
Expected Progress |
A linear projection of a task’s work distributed over that task’s duration as defined in the Work Plan. It’s affected if you update the Work or the Duration. When assigned to a resource, the work is assigned to that resource’s work load according to that person’s availability (working hours and time off). This is the task’s Resource Load. Example: Project 1 has 2 tasks: Task A is an 8 hour task. And has one resource (let’s call him “Bob”). Bob has an 8 hour work day and full availability to take on new project work, so we expect Bob to complete the task in one day. Task B is a 3 day task. It has a dependency on task A, so that it is scheduled to start only after A is complete. Again it has only one person, Bob, assigned to do the work. As AdaptiveWork only takes into account working hours, the 3 day task with a single resource is the equivalent of 24 person/hours of work (that is: 8h * 3 = 24h). |
|
|
✓ |
|
Earned Value |
Budgeted Cost of Work Performed (BCWP). Completed Work expressed in terms of the Budgeted Cost. |
|
|
✓ |
|
Cost Variance |
Earned value - Actual Cost |
|
|
✓ |
|
ETC |
(Budgeted Cost - EV)/(CPI*SPI). A forecast of how much more money will need to be spent to complete the project. |
|
|
✓ |
|
EAC |
Estimate at Complete = Actual Cost + Estimate to Complete |
|
|
✓ |
|
Budget Net Revenue |
Budget Net Revenue = Budget Labor Revenue + Budget Revenue of BILLABLE 'internal' Non-Labor Resources + Planned Profit of 3rd Party Non-Labor Resources |
|
|
|
| Planned Net Margin % |
(Planned Profit / Budget Net Revenue) * 100 |
|
|
|
| Suggested Revenue |
When Project's Labor Budget = Task Assignment, uses Work x Rates. When Project's Labor Budget = Project Assignment, uses Project Assignment x Rates"" AND Budget Revenue from Non-Labor Resources. |
|
|
|
| Actual Net Revenue |
Actual Revenue of billable 'internal' Non-Labor Resources AND Actual Profit of billable 3rd Party Non-Labor Resources AND (Actual Effort x Rates). See note below table |
|
|
|
| Actual Contribution % |
(Actual Profit / Actual Net Revenue) * 100 |
|
|
|
| Revenue EV |
Labor = Actual Effort * Rates. Non-labor = actual margin of billable non labor |
|
|
|
| Suggested Net Revenue |
When Project's Labor Budget = Task Assignment, uses Work x Rates. When Project's Labor Budget = Project Assignment, uses Project Assignment x Rates. For Non-Labor, Planned Profit of billable of 3rd Party Non Labor Resources, else Budget Revenue |
|
|
|
| Suggested Actual Net Revenue |
Suggested Actual Net Revenue = Suggested Actual Labor Revenue + Actual Revenue of internal Non-Labor Resources + Actual Profit of 3rd Party Non-Labor Resources |
|
|
|
Actual Net Revenue calculations
| Field | Fixed Price | Time & Materials |
|
Actual Net Revenue (per month of Fixed price item) |
Will not be broken down by Individual resources Actual Revenue - Actual Cost of Billable 3rd party Costs
Straighline Monthly (current fiscal month/Fiscal Months) * Fixed Price Straighline Daily (Working Days in fiscal month/Duration (d)) * Fixed Price |
as earned As we break down per resource: Labor: Actual Revenue Non labor, Billable 3rd party costs: Actual revenue - Actual Cost Non-Labor, Not Billable: 0 |
|
Actual Net Revenue (Per month of LR/NLR) |
If labor resource: Actual revenue If non labor resource && Billable: Actual Revenue - Actual Cost Straighline Monthly (current fiscal month/Fiscal Months) * Fixed Price Straighline Daily (Working Days in fiscal month/Duration (d)) * Fixed Price |
Forecasting fields
For time-phased planning, there are forecasting fields that allow intra-month manual tracking of forecasted amounts that do not alter your work plans.
|
Financial Planning Fields |
Definition |
From Financial Plan |
Can be Manually Set |
Formula-Based |
|
Budget Cost |
Rolls up to Work Item Budgeted Cost. Labor Costs are calculated from Resource Planning * Cost Rates |
✓ |
✓ |
✓ |
|
Actual Cost |
Rolls up to Work Item Actual Cost. Labor Actuals are calculated from Timesheets. |
✓ |
✓ |
✓ |
|
Forecast Cost |
Manually set, does not roll up to work item. |
✓ |
✓ |
|
|
Budget Revenue |
Rolls up to Work Item Expected Revenue. Labor Revenues are calculated from Resource Planning * Billing Rates |
✓ |
✓ |
✓ |
|
Actual Revenue |
Rolls up to Work Item Actual Revenue. Labor Actuals are calculated from Timesheets. |
✓ |
✓ |
✓ |
|
Forecast Revenue |
Manually set, does not roll up to work item. |
✓ |
✓ |