Runn provides forecasts of key insights for each of your projects in time (hours) and financials (revenue and project costs). Examples include: 

  • Project budget

  • Project revenue

  • Project people costs

  • Gross project profits

  • Margin (%)

The insights forecasts are for the entire project.

Note: The insights shown are based on your inputs. Runn assumes that you will bill all hours you have assigned/logged on this project. E.g. if you schedule a person for 10h per day but that person's capacity is 8h per day, Runn will use the 10h in your forecasts and that you will bill the 10h.

Time Insights

Forecast

Description

Project Budget

The project budget you have set for the project in terms of hours.

Total Billable Hours

The sum of hours that are scheduled or logged on billable assignments.

Over / Under Budget

The number of hours that you are expected to go over or under budget.

Completed Hours

The number of billable hours that have been scheduled/logged before today.

Completed (%)

The percentage of total billable hours that have been completed.

= Completed Hours / Total Billable Hours * 100

Financial Insights

Forecast

Description

Project Budget

The project budget you have set for the project.

Project Revenue

The revenue you are expected to earn on a project.

It's the sum of the assigned/logged hours for each person and placeholder on the project, multiplied by their respective charge out rates.

For Time and Material projects, Runn calculates Project Revenue from your project's Total Billable Hours and the project rates you have set for each role.

For Fixed-Price projects, Budget ($) will equal Project Revenue ($).

Over / Under Budget

The $ amount that you are expected to go over or under budget.

T&M Benchmark (fixed price projects only)

How much revenue you could earn if the project is charged as Time and Materials and you bill for every hour that is scheduled/logged on the project.

For fixed-price projects, Runn calculates it from your project's Total Billable Hours and the project rates you have set for each role.

Project People Costs

The sum of all labor expenses you are expected to incur on the project.

Runn calculates Project People Costs ($) from the Total Billable Hours and the cost to the business you have set for each person in their contract.

If you have placeholders scheduled, the internal role cost rate is used.

Project Gross Profit

The money you will earn from the project after subtracting any people/placeholder costs from your project revenue.

= Project Revenue ($) - Project People Costs ($)

Margin (%)

The percentage of revenue that exceeds your project people costs.

= Project Profit ($) / Project Revenue ($) * 100

Example

In the example below, we had 3 people scheduled on a project to work 80 billable hours each. The project is completed. 

  • Their cost is $60 each (See employment contracts for how to set and manage a person's cost rate)

  • Their project charge out rate is $150 (See rate cards to set and manage charge out rates)

Note that for simplicity's sake, this example uses the same cost and role charge-out rate for each person on the project. In reality, these figures will likely be different.

Time Insights:

Project Budget

= budgeted hours

= 80h * 3

= 240h

Total Billable Hours

= scheduled billable hours

= 80h * 3

= 240h

On Budget

= project budget - total billable hours

= 240h - 240h

= 0h

Completed Hours

= no. of billable hours scheduled/logged before today

= 240h

Completed

= completed hours / total billable hours * 100

= 240 / 240 *100

= 100%

Financial Insights:

Project Budget

In this example, the budget uses the rate and hours assigned.


= (budgeted hours * charge out rate) * 3 people
= (80h * $150) * 3
= $36,000

Project Revenue

= (assigned hours for period * charge out rate) * 3 people
= (80h * $150) * 3
= $36,000

On Budget

= project budget - project revenue

= $36,000 - $36,000

= $0

Project People Costs 

 = (assigned hours for period * cost rate) * 3 people
= (80h * $60) * 3
= $14,400

Project Gross Profit

= Project Revenue - Project People Costs
= $36,000 - $14,400
= $21,600

Margin 

= (Project Gross Profit / Project Revenue) * 100
= ($21,6000 / $36,000) * 100
= 60%



Still have questions? We're happy to help! 

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