Fresh Projects

00:00: The Project Dashboard gives you a top level view of the project's finances.

00:04: This allows you to graphically interpret planned versus

00:07: actual income and expenditure of not only the project but also the individual

00:11: stages.

00:14: Open the relevant project and navigate to theDashboard.

00:19: First, let's focus on the doughnut chart to the left of the screen.

00:24: Focusing on a single doughnut chart, it first and foremost, comprises of the Fee in

00:29: the left hemisphere and the Cost in the right hemisphere.

00:34: The Fee is indicated by the grey segment and represents the total agreed upon fee

00:38: with the client.

00:42: The value of the black segment is reflected by the Invoiced amount.

00:46: As you begin invoicing on the project, a new black segment will appear,

00:50: beginning at 12 o'clock and moving in a counter-clockwise direction over the grey segment.

00:57: Ideally,

00:58: once the project is complete, the grey segment should be totally covered by the black

01:02: segment,

01:03: indicating that the client has been invoiced for 100% of the fee.

01:09: The Cost in the right hemisphere is indicated by the light blue and navy blue

01:13: segment and represents the total internal budget set for the project.

01:18: As time and expenses are captured to the project and then approved,

01:21: the navy blue segment will appear,

01:24: beginning at 12 o'clock and moving in a clockwise direction.

01:28: Ideally, the navy blue segment should always stay within the confines of the light

01:33: blue segment,

01:34: indicating that the true project costs are still within the budgeted amount.

01:39: The value of the navy blue segment is reflected by the Actual Cost amount.

01:45: The segment in the right hemisphere represents the Profit, and is equal to the Fee

01:50: minus the Actual Cost and Cost Remaining.

01:53: If the Actual Cost exceeds the budgeted cost at any point,

01:56: the navy blue segment will eat into the green segment, effectively lessening the

02:01: Profit.

02:02: If the Actual Cost increases to such a degree that it negates the Profit entirely,

02:07: the green segment will be replaced by a red segment in the left hemisphere,

02:11: indicating a Loss.

02:14: The thin green segment in the left hemisphere indicates a Positive Cash Flow and is

02:19: calculated as the difference between the amount Invoiced and Actual Cost.

02:23: If, at any point, the Actual Cost exceeds the amount Invoiced,

02:28: this will be reflected by a thin red segment in the right hemisphere.

02:33: Now,

02:34: looking at the project breakdown to the right of the screen,

02:37: you will see the groups and stages that comprise this project.

02:42: Next to each stage there will be two horizontal bars.

02:45: The grey bar indicates the Fee.

02:49: The light blue indicates the Cost Remaining for that sub-project.

02:54: As you begin invoicing against a stage,

02:57: a new black bar will appear over the grey bar.

03:00: The value of the black bar is indicated by the amount Invoiced.

03:05: Ideally,

03:06: once the stage is complete, the grey bar should be totally covered by the black bar,

03:11: indicating that the client has been invoiced for 100% of the fee for that stage.

03:17: As time and expenses are captured to the stage and then approved,

03:21: a navy blue bar will appear over a section of the light blue bar.

03:25: The value of the navy blue blue is reflected by the Actual Cost amount.

03:31: Ideally, the navy blue bar should always stay within the confines of the light blue

03:36: bar,

03:36: indicating that the true costs for the stage are still within the budgeted amount.

03:42: You have successfully navigated the Project dashboard.