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Financial indexes based on days instead of hours

Hi community!!

I`ve a doubt about project's finance properties.... I know that the most of this indexes are calculated by Clarizen based on expenses reported to the projects and based on the cost per hour of each resource (work) and also based on the hours worked by each resource (actual effort).

The mesure we use is per day, we dont`t have (don´t use) the cost per hour per resource.

Anyone knows how I configure Clarizen to financial indexes are calculated per day (planned/worked) instead of an hour (planned/worked) ?

The "actual effort" is measured by hours.. do you know if this can be measured by days?

As always thank you vere much for read me and help me!

Maria

Maria Munguia Cobos Answered

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Good question Maria, but_ _I think Actual Effort must be expressed in hours (someone from Clarizen please correct me if I'm wrong). Generally in Project Management it is a commonly accepted to use hours instead of any other units and Clarizen sticks to this rule. What you can do is set a day work (e.g. 8h) within organizational calendar and report 8h (that would be 1 day) and so you can get index value correct. 

If there is any way to do that - please share your knowledge. 

-al

Andrzej Lechowicz 0 votes
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Hi Andrzej!

Thanks for comment.

I found some answers that probably work, first I've to prove.

But here are the answers I found:

A)  From  "Settings >> System Settings",  section 11 related to "User interface Settings",  the number 11.10 says "Show effort related time in Hours", that means "If true, Work, Actual Effort, Remaining Effort and other duration related fields will be shown by default in Hours. Otherwise, values of duration related fields will be shown in Days".   I CHECKED as true this option.

B) Section 12, related to "Work Plan Settings", the work policy have to be = "Fixed Durations", that's mean the principal progress measure is in days.

C) Section 4, related to "Expenses", enabled the number 4.5 "Rollup expense cost to the related work item/project", which means "If true, the incurred cost of the expenses will be added to the cost of the work item/project."

D) Section 3, related to "Budget",  DISABLE the numer 3.2, which refers to "Auto calculate budget using progress and resource rates".  If enabled, work item’s actual cost will be calculated as a function of its progress and resource rates

E) My resources don`t have any costo or price billing. They are on zero $0.00

F) From Project's properties --> finance tab, I´ll use only FIXED COST and FIXED PRICE fields, those are not calculated for Clarizen, both of them are set manually.  I'll not use  BUDGETED COST.

Let me see if it work, and let you know!

Regards,

Maria.

 

 

 

 

Maria Munguia Cobos 0 votes
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Maria,

You can use the "Fixed Cost" and "Fixed Price" to override the hourly rate calculations - this should suffice for your requirements.

Setting 11.10 will show the duration related fields in Days rather than Hours, however, this is more for visualization purposes; the underlying functionality is the same.  Again, using Fixed Cost and Fixed Price will alleviate this concern.

Rob

Yoko Suzuki 0 votes
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I understand Rob, thank you so much for answer, but tell me... if I use "Fixed Cost" and "Fixed Price" the following financial indexes are ALSO calculated by Clarizen:

* Actual Cost (I'm using Expenses sheet and Time tracking)

* Cost Balance

*  Actual Revenue (how does it is calculated? base on what?)

* Revenue Balance

* Profit

* % Profitability

* % Invested

* Cost performance >> Earned Value, CPI, SPI, Cost variance, ETC, EAC, TCPI 

 

All these are calculated in the same way although I use "Fixed cost" and "Fixed price" ????

 

Thank you again!

Maria Munguia Cobos 0 votes
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Maria,

To see how these fields are calculated (what the formulas are), you can right-click on an item, select "Properties," go to the "Finance" tab, and hover your mouse over the field.  A tooltip will appear showing the formula.

If you use Fixed Cost and Fixed Price, the Actual Cost and Actual Revenue will not be updated until the work item is marked complete.  That's the difference between using the hourly rates and fixed rates.

If I have misunderstood your request, please clarify.

Rob

Yoko Suzuki 0 votes
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