Tracking Realtime Project Profit and Progress.

The progress of a WorkGuru project can be visually tracked in real time from the project details page via the profit and progress widgets and the project tabs.  

TABLE OF CONTENTS

• Time Progress
• Task Completion
• Invoicing Progress
• Costs
  • Time
  • Materials
  • Purchases
  • Supplier Credits
• WIP
• Profit

WorkGuru will immediately highlight any actuals that run over the project forecast so you always have timely information you need to keep your projects on track to complete on-time and on-budget.

Time Progress

The Hours Worked widget shows the total actual hours worked to date vs the forecast. The Overview tab will display the individual tasks's actual vs forecast hours. Eg: you may be over time on a task but still under budget on the project.

The Time tab will display a log of all timesheets submitted to the project. This breaks the total hours worked down to individual staff. If the tasks are billable, the billable length will impact the invoicing/WIP values.

Task Completion

The Task Completed widget will display the number and percentage of the tasks marked as complete in the Overview tab. This is a useful tool to provide a completion metric for the project that is independent of the number of hours forecast.

Invoicing Progress

The Invoiced widget will display the current invoicing balance and percentage. The Invoices tab will display the breakdown of the invoiced tab to the individual invoices. Widget will turn green when fully invoiced.

Costs

The Cost widget displays the total actual costs value to date vs forecast to date. You can hover over the widget to break down the total cost to the individual actuals on the project: Time, Materials, Purchases and Credits.

Time

Time is the total cost of the timesheets submitted to the project to date. Staff time is tracked at their individual rates so for a given number of hours on the project, the actual cost of that time could differ greatly depending on who has actually worked on the job. Eg: Two hours of time at a project manager rate vs apprentice rate.

Materials

The total value of the stock on hand used on the project to date can be broken down in the usage log in the Materials tab. The individual item's unit cost is the FIFO unit cost inclusive landed costs.

Purchases

The total value of the project purchase orders raised on the project to date can be broken down in the usage log in the Purchases tab. The value of project purchase orders will accrue on the project from the draft stage, but will update if the order pricing changes when received.

Supplier Credits

The value of the supplier credits raised will be added back to the project's profitability.

WIP

The WIP widget will display the balance value of any billable lines not invoiced on the project to date. NOTE:  Un-billed WIP is NOT related to profitability or costs, only invoiceable project revenue.

You can hover over the WIP widget to display the breakdown of the WIP total:

Profit

The Profit widget, the heart of the WorkGuru project, is calculated from the total invoiced amount minus the total actual cost to date vs the project's forecast revenue and cost. If all costs have been added to the project accurately in a timely manner, this will be a live indication on how profitable the project currently is. A negative value indicates you have accrued more costs than invoiced revenue on the project to date.