Why is the Project Revenue still shown as $0 when I have selected a Rate Card?
Why is the Project Revenue still shown as $0 when I have selected a Rate Card?
After choosing a rate card under the Project Rates tab from the Project Budget page, please make sure you click on the grey arrow at the column header to copy all the rates from the rate card to the project rates:
I am paying my resource a fixed cost rather than an hourly cost in a project. How to set that up in the Project Budget?
I am paying my resource a fixed cost rather than an hourly cost in a project. How to set that up in the Project Budget?
You can add the fixed cost as an item under Other Expenses. Make sure you set the resource's cost-to-business in their contract to $0, so when you add the scheduled assignments to them (or when they log actual hours), no additional cost will be calculated based on the scheduled or actual hours.
(However, this also means that their cost-to-business for all projects will be $0)
Why do I see a yellow warning icon next to the "Budget" button?
Why do I see a yellow warning icon next to the "Budget" button?
The icon indicates that you are either overallocating or underallocating your budget. You can hover your cursor on the yellow warning icon to see how much has been over- or under-allocated. Adjust the budget or the scheduled assignments if needed.
If it is a fixed price project, underallocation might be desirable if the project can be completed with fewer hours (meaning greater profits). In that case, you can just ignore the warning icon.
Can I set up a different hourly cost for the same person on different projects?
Can I set up a different hourly cost for the same person on different projects?
No, the hourly cost of a person is based on the cost-to-business set up in their contract. A person can only have one cost-to-business at a time and it applies to all projects.
If needed, you can create two "people" in Runn for the same resource, and add different costs-to-business for the two "people", however, this will be counted as occupying two resource seats.
For Fixed Price projects, why does the Project Revenue in the past change all the time in the project period report?
For Fixed Price projects, why does the Project Revenue in the past change all the time in the project period report?
For Fixed Price projects, the Project Revenue of a time period is 'earned' revenue, based on the % completed of the project. The % completed recognized in Runn changes as reflected in the Effective Hourly Rate.
If more billable hours are scheduled or logged compared to the last time you generated the report, the % completed recognized in the past will decrease, as now more efforts are needed to complete the project, the % completed now is not as high as compared to last time. As a result, the Project Revenue of the past will be adjusted to reflect the latest % completed.