The objective of this tutorial is to show how to create a fixed-price project from A to Z in BoondManager.
We will first see:
how to create the project in the interface,
qualify it and assign resources,
and finally, we will focus on the billing of this project.
Create the Fixed-Price Project
You have two solutions to create a fixed-price project, either from an existing opportunity, or from scratch. That's what we will see here.
From an Existing Opportunity
You can start from an ongoing fixed-price opportunity, then change the state to Won and Save.
Before duplicating your won opportunity into a project to create it, Boond asks if you want to select a collaborator to work on this project.
Since this is a fixed-price project, you are free not to select anyone, as you are committed to the result and not to the means used. However, if you wish, you can select a positioned person. You can also go back to the opportunity to set other people to "won" and then choose your project from the proposed list. This way, you can start building your team for the project.
From Scratch
You can also create your project from scratch by going to the Project module and clicking the + button. Then simply enter an opportunity title (since a project = a won opportunity), select the type corresponding to the fixed-price project, and the client contact.
Once you have created your project using one of these two methods, you arrive on the Information card. Don’t forget to fill in the project title (you are of course free to reuse the opportunity title) as well as the project period.
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Unlike time-and-materials projects, the start and end dates of the fixed-price project are not automatically linked to the assigned deliveries, so remember to update this period if the project is extended.
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Qualify the Fixed-Price Project
You have created your project, now you need to qualify it.
Method 1: With Only Additional Turnover
On a fixed-price project, you can choose to assign one or more resources. If you still want visibility on your costs and turnover, you can use the investment and additional turnover table.
In this column, indicate the turnover generated over the period
In this column, indicate the cost of the period or possibly your investments (machine purchases, licenses, ...). You can also leave this column blank.
You can add as many rows as the desired level of detail
Each row is dated; by activating the green button, you ask the tool to consider each row as production for the indicated month.
You get your financial summary completed with indications of signed turnover, signed cost, signed margin, and signed profitability.
As mentioned above, you are free to allocate deliveries or not. If you don’t, note that no one will be able to log time on these deliveries.
Method 2: By Qualifying Deliveries and Additional Turnover
If you want to assign people to the project, this is entirely possible by clicking the + button and selecting Delivery.
To be as accurate as possible about your generated turnover and costs, you can qualify your collaborators’ deliveries as follows:
Indicate the period during which you want your collaborator to log their time on the project.
Do not indicate a project rate but do indicate an estimated workload; the Daily Rate must remain zero if additional turnover is used to avoid doubling the results.
Thanks to the Delivery ADC, you know the cost of your collaborator on the project, which appears in the financial summary table.
You can do this for all project deliveries and complete the additional turnover to indicate what was planned with your client, which will finally give you the following result:
In this way, you have the total turnover of this project and an estimate of the cost based on what will probably be done by your collaborators. Actual costs will then be adjusted based on logged time.
Note also that you can indicate a project manager; this feature allows the indicated person to have additional information on their intranet compared to the default classic view offered to collaborators.
Method 3: With Only the Delivery
You can also qualify each delivery by indicating a sale rate and a workload to have your overall total. Again here, you need to see which data matters most to you.
Advantages of Each Method
Method 1 allows you to have global visibility on the costs and turnover of the project without assigning resources
Method 2 allows you to have visibility both on the costs of each resource and also on production costs not linked to deliveries/resources but to the different project deadlines.
Method 3 allows you to have visibility on costs and turnover per delivery and thus per resource; this is the method to use in the case of fixed-price time-and-materials for example.
Groups on Your Fixed-Price Projects
If you choose method 2 or 3, you can create groups to divide your project into "sub-projects". This allows you, for example, to divide tasks within your project and thus say that your collaborator works on one or more phases of the project.
You can find the full tutorial on groups by reading the article: Create and manage a delivery group
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Track Consumption of a Fixed-Price Project
For this part, go to the Consumption tab of the project. You will find the following table:
For the tutorial, I chose method 2
Here you find the financial consumption summary table, which highlights what has been produced compared to what has been signed.
- The "Signed" row corresponds to the financial summary of the delivery tab
- The "Production" row corresponds here to the rows of the turnover table whose checkbox is green(in my case I checked only the first deadline to have production as the project progresses).
- The resource row is only filled in for costs (thanks to logged time), as it is the turnover table that brings up production
- The Purchase and details row corresponds to the different rows of the additional turnover table whose checkbox is checked and to purchases rebilled to the client on the projectHere you see the signed time per delivery versus the time logged by each collaborator on the delivery
Here you see the signed expenses per delivery versus the expenses logged by each collaborator on the delivery
Here it is the production turnover excluding VAT for Resources = (Daily Sale price excluding VAT of project resources x number of days logged by resources on deliveries) + rebilled expenses to the client
In our case it is zero because the sale price was not qualified on the delivery.
And Costs excluding VAT = Cost of Time Logged by resources + Cost of Expenses logged on expense reports linked to the project + Cost of Additional Investments (whose checkbox is checked) + Cost of Purchases linked to the project + Cost of project advantagesYou find a table summarizing the quantities of signed and consumed time with the possibility to indicate a "remaining work" to see if you are late or ahead on the project and have visibility on the number of days of forecast variance. If the variance is negative (not enough days sold compared to remaining work), then the figure is in red to alert you.
You have the possibility to download the client activity reports corresponding to each delivery line
To Go Further
You can also create batches and milestones on your fixed-price projects.
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Bill a Fixed-Price Project
Create an Order
As with any project in Boond, to bill your projects, you need to create an order.
To do this, depending on the method, check the boxes corresponding to the deliveries belonging to the same order and click on "Create order"
OR
If the project has no delivery, click directly on the + button at the top right to create the Order.
Qualify an Order
Once this is done, you arrive on the order card, you just have to qualify it and fill in:
The order number (usually corresponding to the number imposed by your client and which must appear on the invoices)
The ordered turnover
The billing terms
By default, the Billing Type is set to "Schedule". To create the schedules, click on "+ Create a schedule". You can then define several criteria according to your needs:
Frequency
Monthly, quarterly, semi-annual, annual, or customCalculation method for the amount of schedules to apply
You can choose to apply an amount or a % of the ordered turnover, use the additional turnover, or manually enter the amount for each scheduleSchedule date
For a regular frequency (not custom), you can choose when during the period the schedule should be established (e.g.: last day of the month for a monthly period)Number of schedules
For a custom frequency, you can choose the number of planned schedulesDescription of schedules
You can manually enter this description or use the available dynamic variables
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Important
You can configure a default configuration for your schedules in Administration, and thus define the frequency, amount, description masks by default that you want to use.
Administration > Global Settings > Billing tab > Schedule settings
Note
If you wish, you can still indicate a billing type "monthly". This way, you bill each month based on the time logged by the collaborator. This is to be associated with method 3, for example.
Billing Schedules
Then you just have to create your invoices from the schedules. To do this, you can follow the tutorial: Schedule billing: bill your fixed-price projects.