Report: Q0291

The Project WIP – Template LD Report is a comprehensive tool within the Q360 system designed to provide a detailed overview of project financial data on a project-by-project basis.  This report offers unparalleled flexibility, allowing users to modify included fields, apply various filters, create calculated fields, and leverage additional functionality through Q360’s live data designer.  The data presented in this report is sourced from BI (Business Intelligence) data captured nightly, and stored as of the end of each month, providing a historical or up-to-date view of project profitability

Accessing the Report: 

To access the Project WIP – Template LD Report, navigate to Live Data > Live Data Reports > Project WIP – Template LD Report

Purpose: 

The primary audience for this report includes Project Coordinators, Project Managers, Operations Managers, and anyone requiring in-depth insights into project financials to review and control project profitability.  The report enables users to review project profitability as of a defined date and compare the original budgeted values to projected values and earned values.  The design flexibility of the report allows for the creation of purpose-built versions, facilitating the simultaneous review of multiple projects and informed decision-making regarding cost management

Financial Data Types: 

The report encompasses three main types of financial data: 

1. Budgeted Values:  Financials include Budgeted Revenue, Budgeted Gross Profit, Budgeted Gross Margin, and Budgeted Hours.  Budgeted financials, depending on Q360 system configuration, are initially based on the original sales order, allowing users to compare against the project’s original sale.  Configurations may include change orders in the budgeted column, and permissions may allow editing of the budgeted column on the project > profit tab
2. Projected Values:  Financials include Projected Revenue, Projected Costs by type, Projected Gross Margin (compared to the prior period), Projected Gross Profit, Projected Hours, and Warranty/Deferred Revenue.  Projected financials are based on the original sales order and include ICOs (Internal Change Orders), CCOs (Customer Change Orders), and linked orders to the project
3. Earned Values:  Financials include Earned Revenue, Earned Costs by type, Earned Gross Margin, Earned Gross Profit, and Earned Hours.  Earned financials are based on posted time bills for labor and shipped material with both COGS (Cost of Goods Sold) and Revenue posted within Q360

Report Columns:

In addition to high-level project information, the report includes the following columns: 

• Entity, Branch, Department: Project-related organizational information 
• Customer, Project Number, Title: Specific details identifying the project
• Project Manager: The individual overseeing the project
• Project Start and End Dates: The timeline of the project
• Total POC (Percent of Cost Complete): Earned Cost divided by Projected Cost. The percentage of project completion
• ICO (Internal Change Order): Dollar amounts of ICOs processed against each project as of the selected date
• Backlog: Projected Revenue subtracted from Earned Revenue, indicating the remaining revenue to be recognized based on work performed to the selected date
• Backlog GP: Projected GP subtracted from Earned GP, showing the remaining GP to be recognized based on work performed to the selected date
• Invoiced: Dollars invoiced for as of the selected date
• Last Event: The last event added to the project, with hover or click functionality to read associated comments
• Last Event Date: The date the last event was added to the project 

Additional Functionality: 

Project Events 

Through the Extended Menu, users may highlight a single project row within the report to add a new event to the project.  This feature serves as a quick point of update for individual or operational reviews, keeping users or teams informed about recent event activity.  The added event contributes to the project in the same way as if added at the project level

Additional Columns and Report Modification 

Within the Live Data Designer, users with the appropriate permissions can access the Project WIP – Template LD Report, make a copy, and modify it to align with specific needs.  This functionality aligns with the report’s original design intention, offering users a dynamic tool adaptable to various use cases.  The Live Data Designer not only provides access to a vast array of additional fields but also allows the modification or addition of filters, calculated fields, and logic, enabling the creation of fully customized versions of the report

Customization Capabilities: 

• Field Addition:  Users may include a large number of additional fields to enhance the report’s depth and relevance to specific requirements
• Filter Modification:  The ability to modify or add filters empowers users to refine data based on specific criteria, ensuring focused and tailored results
• Calculated Fields:  Users may introduce calculated fields to derive new insights or perform complex calculations tailored to unique business needs
• Logic Inclusion:  Additional logic can be incorporated to introduce specific conditions, providing a more nuanced analysis of project financials

Live Data Designer Resources: 

For users seeking a deeper understanding of how the Live Data Designer can be leveraged to modify the Project WIP – Template LD Report and other reports, comprehensive documentation is available through the Help Center. Moreover, specialized training sessions can be arranged upon request through our support team.  

Recommendations for Additional Fields: 

Consider incorporating fields that facilitate the comparison between budgeted values and earned values.  Some recommended fields include (but are not limited to): 

• GMVariance:  Gross Margin Variance 
• GPVariance:  Gross Profit Variance 
• LaborCostVariance:  Variance in Labor Costs 
• LaborHoursVariance:  Variance in Labor Hours 
• TotalCostVariance:  Variance in Total Costs 

The Project WIP Template Live Data report offers numerous additional fields to further extend its functionality, providing users with a tailored and comprehensive view of project financials.  Explore the possibilities within the Live Data Designer to create a customized version of the report that best suits unique business requirements.