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should focus on the TOTAL area of the report output to assess whether an effort is over
or under budget. The table below explains how the values in each section of the TOTAL
area are derived:
TOTAL
TO-DATE BUDGETED BACKLOG FUNDED VALUE REMAINING FUNDED
Labor: Project Value:
Total Budgeted Bill $ Budgeted – To-Date Funded Value Funded Value – To-Date
revenue for + OR
selected Expense: +: Budget > Revenue Task Value: +: Funding > Revenue
date range Budgeted Bill $ (-): Budget < Revenue Funded Value(s) (-): Funding < Revenue
The key fields to evaluate in this report are Backlog and Remaining Funded. A positive
Backlog value means the project is under budget while a negative value means the
budget is being exceeded. A positive value in the Remaining Funded field indicates that
there are unused funds available on the project, while a negative value indicates that
funds may run out before the effort is complete.
Part 3: Review Current Project Revenue
1. Navigate to Reports > Dashboard > Project Accounting Reports.
2. Under Summary Reports, select “Project Revenue & Funding Summary”.
3. Modify the report criteria as indicated below:
REPORT ON: All Projects I can see
PROJECT: CS-GOV-CON – 253CONSULT PM3-FORECAST-CP
CS-GOV-CON – 253CONSULT PM3-FORECAST-FP
CS-GOV-CON – 253CONSULT PM3-FORECAST-TM
DATE RANGE: BOT to EOT
FORECAST OPTIONS: Include Actuals and Assignments for Active Plan Sets
6/15/2024 Use Actuals Through Date
Calculate remaining plan/budget based on:
Remaining hours/expenses per work day
REPORTING OPTIONS: Calculate from Project Budgets/Funded Value
INCLUDE EXPENSE REPORTS: Using Line Item Date within range
Include non-completed Expense Reports
4. Press Run Report.
Enter the values for each project in the table below. Based on the metric thresholds
above, is each project meeting or exceeding the corporate revenue threshold?
LESSON 3: MONITORING AND CONTROLLING PROJECT PEFORMANCE
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