A record of a required action by a specified resource. Action items are created ad-hoc and can be associated with organizations or contacts if desired, but that is not required.
An asset is an item owned by the company and significant enough to inventory and track separately. It has a value, an expected lifespan, and location/user info.
The effective “value” of an hour of billable time for a particular resource. Is influenced by the resource title and the rate card in use. Bill rate is used to estimate fixed price projects and is the rate billed to unbudgeted (example: Time and Material) projects.
Burden or Burden Rate
The amount per billable hour it costs to run the business. This includes the cost of all overhead labor, the cost of non-employee specific benefits, office and other operating costs.
A clause providing additional clarity to the overall scope definition of a project. Clarifications are often used to specifically exclude or limit scope, or to make clear what choices or assumptions have been made in order to arrive at a finished proposal.
A generic term meaning applications and computing resources available via the internet and hosted in managed datacenters.
Consignments are items loaned to the company by others for use during the execution of work. Consignment records are used to receive, track, manage, and return these goods.
Contact A person. Contacts belong to Organizations.
Cost Rate The actual cost per hour of billable time for a particular resource. The cost is the sum of the title-specific average salary and benefits and the burden rate.
An item used to estimate the amount of money anticipated to be expended by resources during the execution of a subproject.
A record of a purchase by a resource (using company funding such as a credit card or their own money) for the benefit of a subproject. Can be reimbursable to the resource.
A screen made to allow resources to enter expenses against subprojects (which creates expensecards). Extrapolated Hours/Cost/Profit During the review of tasks on projects, users should update the percentage complete. Updating this percentage allows extrapolation of the final expected hours in a project. This extrapolation allows calculation of expected cost, and expected profit. Zero percent will prevent extrapolation. The extrapolated hours will be the higher of the estimated hours and the actual hours.
A company that produces a material item that might be used in the estimation or execution of projects. A manufacturer may be or may not be also an Organization in the system. These are two different records.
A family is a child record of a manufacturer- families are groups of products, and are provided to allow easier navigation of potentially many arts from a single manufacturer.
Manufacturer Part A model number or part number made by a manufacturer and organized by family.
Material An item used to estimate the purchase by the company of an item or items via the purchase order process. There is one model or part identified per material.
Message A record of a communication with one or more contacts. This may be automatically recorded as email, or manually recorded by users entering records of telephone calls or meetings. Messages can be associated with nearly all other types of records.
They are Used for fixed price type projects, a milestone defines a major event or accomplishment during the execution. Milestones are used to invoice for fixed-price projects, and so have a percentage of the total price associated with them. Milestones should be independently recognizable. by both the project manager and by the client- “we will bill you X% when we accomplish Y”, with Y being something that the client understands. Milestones CAN be the accomplishment or delivery of a deliverable, or they can be based only on project execution. For example, a project may have two simple milestones: the first for 50% upon project kickoff, and the second for 50% upon project completion.
The dashboard is the first screen displayed upon login to ProFusion. This screen shows data for the logged in user, including a display of projects they are in control of, colorized for performance, their current timesheet, a list of items (projects, time records, expense records) that are awaiting their approval, and a list of all their currently open action item.
An identified potential project. Structurally, an opportunity is simply a project in the earliest stages of development. Opportunities are used to track and execute sales activities and marketing plans.
A group to which contacts (people) belong. Typically a company, association, family, or the like. Organizations can be assigned customizable relationships (how they are related to us) and types (what type or category of organization), to support sales and marketing filtering.
An organized effort to accomplish a goal, either for a client or for internal use. A project is made up of one or more subprojects, has a leader, and allows definition of the nature of the effort and the desired outcome.
A set of billing rates, one for each title in the organization.
A requisition is a child of a material item- it initiates the purchase process for some or all of the quantities identified in the material. There can be more than one requisition per material, and requisitions can order a different part/model than the material estimated.
An employee or subcontractor, someone that works for the company and is assigned a title.
Revenue is defined as funds received or expected independent of cost, which is not the same as net income or profit.
Roles are security permissions. Users with specific roles milestone can perform the function secured by the role.
A clause stating what is going to be provided or accomplished during the execution of a project. There can be more than one scope clause in a project definition. Scope clauses should also include references to documents or other information sources that were used or are relied
upon to determine the activities to be done and their cost.
The shelving function is available for Action Items and Opportunities. Shelving allows the item to be removed from the active lists for a set period of time, reappearing after that time expires.
An item used to break a project or opportunity into logical groups during the estimation process. A sub-project may handle a specific deliverable, or perhaps a phase of the work. Sub-project estimates are made up of tasks, expenses, and materials. Task An item used to estimate the amount of time and the required resource title necessary to accomplish a task or function, and then used by resources to charge time against.
Task Percent Complete
Some of the measures of overall project performance rely upon the review of labor items at the task (lowest) level. Task percentage complete is typically set by the project lead or their manager, and is an indication of the amount of the TASK itself that is done- not the amount of labor expended. So if the task is 50% done and the estimated labor hours are 100% expended, there is a problem to address, and mathematically this task is expected to be 100% over budget at completion. Conversely, if a task is marked as 100% complete with 50% of the estimated
hours actually expended, the task is under budget.
A definition of the length of time allowed for clients to pay invoices. Typical terms are NET30 and NET45.
A record of time charged by a resource against a task, including the number of hours and a description of the work done.
A screen made to allow resources to enter time against tasks (which creates time-cards). Title The customizable titles in your company. These drive billing rates and cost rates. Workflow A process of review, approval and execution. Major workflows include project/opportunity stages, time-approval, expense approval, and purchasing.