One of the strengths of Next Project is that the system is continuously updated with real-time information. The information is updated as hours, materials, etc., are reported, and registered supplier and customer invoices are processed.

Calculations in Next Project

Depending on the type of business conducted, Next Project can be configured in different ways. Together with how the tool is used, it affects how amounts are presented. If you are unsure, contact Next Support for assistance. For a description of how amounts for gradual profit recognition (PPR) are generated in Next Project, refer to a separate quick reference guide.

Columns

In all modules in Next Project where there are columns, you can choose to open and close the columns you want to see, or not see. Hover over any column header, then press the small black arrow and choose Columns.

In the dialog box, you can select which columns you want to see by checking or unchecking them.

It is also possible to move columns so that they are in an order that suits you as a user. Select a column, hold down the mouse pointer, and "drag" the column to where you want it. Note that selected and/or moved columns are saved for the logged-in user, not for all users. To save the changes, the program needs to be closed properly. Use the Log Out button when closing the program.

Column Descriptions

Below is a description of each column in the Project Overview. The information in the columns allows the filter function and sorting to be used to create different groupings for financial monitoring.

Note	The field where you can write your own comments in a popup box.
Created	Date when the project was created.
Created by	The user who created the project.
Changed	Date when the record was last modified.
Changed by	The user who last modified the record.
Project Number	The number of the project.
Project Name	The name of the project.
Project Manager	The person designated as the project manager for the project.
Project Start	Specified start date for the project.
Project End	Specified end date for the project.
Supervisor	The person designated as the site supervisor for the project.
Workplace ID	Description or identity of the workplace, free-text field used in connection with Next Project's personnel ledger function.
Order Date	Specified order date for the project.
Customer Name	Specified customer for the project.
Customer Type	Specified customer type for the customer.
Project Type	Specified project type for the project.
Cost Center	Specified cost center for the project.
Project Category	Specified project category for the project.
Type of job	Specified type of assignment for the project.
Form of compensation	Specified compensation form for the project. Note: Compensation form and its underlying settings affect calculations in monitoring!
Project Status	Specified status of the project.
Status Period	Latest status for the project during the selected period.
Final Inspection	Date of the final inspection for the project.
Warranty Period	Warranty period for the project.
Warranty Inspection	Date of the warranty inspection for the project.
Budget Cost	The budgeted cost of the project, specified directly on the project card or from the Budget module.
Budget Revenue	The budgeted revenue specified directly on the project card or from the Budget module.
Budget CM	The budgeted contribution margin (Budgeted revenue minus Budgeted cost).
Budget CM %	Contribution margin based on budgeted revenue and cost (Budgeted margin divided by Budgeted revenue).
Budget Hours	Budgeted hours from the project card.
Forecast Hours	Forecast hours from the project card.
Current Forecast Revenue	Revenue forecast specified directly on the project card or from the Forecast module.
Current Forecast Cost	Cost forecast specified directly on the project card or from the Forecast module.
Current Forecast CM	Contribution margin (Projected revenue minus Projected cost).
Current Forecast CM %	Contribution margin (Projected margin divided by Projected revenue).
Forecast Period	Shows the current period for the current forecast, from the Forecast module.
Forecast Period Date	Last date for posted costs & revenues included in the forecast.
Booked Cost VO	All Variation Order costs in the project. This is the sum of supplier invoices and flat-rate costs for self-reported hours and order lines (own machinery, own material, own vehicles, etc.).
Booked Revenue VO	All booked Variation order revenues in the project.
Sum Booked Cost	All booked costs in the project, including VO costs. This is the sum of supplier invoices and flat-rate costs for self-reported hours and order lines (own machinery, own material, own vehicles, etc.).
Sum Booked Revenue	All booked revenues in the project, including VO revenues.
Earned Revenue	Calculated differently depending on the project's compensation form. For ongoing projects: Booked cost + markup. For fixed-price projects, accrued revenue can be calculated in two ways: Completion degree * Projected revenue or Budgeted revenue. The completion degree is calculated: Booked costs / Projected cost or Budgeted cost. Alternative calculation of accrued revenue: Booked cost divided by (1 minus the forecast or budget TG%). Note that projects must have the correct compensation form specified and that these are correctly marked (as fixed price or ongoing) in the underlying settings under Administration-Settings-Types-Compensation Form.
Earned Revenue, not invoiced	Uninvoiced chargeable order lines, hours, and costs, including markup. Note! Used for ongoing projects. For fixed-price projects, Factual is used. See the quick reference guide for SVA.
CM	Contribution margin (booked revenue / booked cost).
CM %	Contribution margin (Margin divided by Revenue * 100).
Current CM	Accrued revenue - booked cost.
Next Invoiced	Total invoiced from the Invoice module in Next Project. i.e., not invoiced in another system.
Booked Hours	Total number of booked hours in the project.
Booked Hours VO	Hours booked on VO
WO Cost	Performed cost in the Work Order module. This includes only the cost of order lines and does not include costs for supplier invoices and reported hours.
WO Revenue	Performed revenue in the Work Order module. This includes only the revenue for order lines and does not include accrued revenues for supplier invoices and reported hours, including markup.
Work Order CM	Order line revenues - costs.
Work Order CM %	Order line contribution margin (Margin divided by Revenue * 100).
Chargeable	Accrued revenue - booked revenue. Mainly used for fixed-price projects. For ongoing
Procurement Payment Amount	Sum of payment plans from the procurement module. i.e., payment plan for costs to suppliers.
Payment plan invoice amount	Shows the total lift/drop from the payment plan to the customer for the project.
Payment plan withheld amount	Shows the content amount from the payment plan to the customer.
Payment plan outcome	Shows Income Payment Plan minus Purchase Payment Plan.

Period Columns

In cases where interval filters are used, it is the period columns that display amounts for the period. The standard columns described above do not take the period into account.

Filter Function

Use the "Show underlying data" function along with information on the project card and filters to retrieve information for the entire or parts of the company.

Select a folder in the Tree View, set/choose your filter in the project overview, and press the "Look down" icon (above the Tree View). Next Project always summarizes upwards, making it easy to get a quick overview. The example shows all ongoing projects under the folder "Contracts."

Favorite Filters

Favorite filters are a feature for saving different column filters for quick access. Note that the function only handles which filters are selected, not which columns are active.

Create a favorite filter by filtering on the columns you are interested in, click on the Star icon, choose "New filter," and name your favorite filter.

To open a favorite filter, click on the Star icon and select the filter you want to activate. In the example above, the filter created using the Favorite Filter function is called ''Ongoing projects'' and can be seen as currently active as the box is ticked.

Examples of Useful Filters

Projects with a Specific Compensation Form

Filters are set on the compensation form and possibly also the status. For example, to retrieve ongoing projects that are not completed or of the administrative node type in the entire company. Compensation form = Ongoing account and Project status not equal to Administration or Completed. (Alternatively, select the project statuses to be displayed.)

Ongoing Projects during a Specific Period

To get an accurate list of projects that have/had been ongoing during a specific period, it is important to consider the following:

Ensure that projects are always in the correct status.
When a project is completed, accept the system's proposed project end date or specify your own date.
In the Project overview, use range filters and specify a period.
The column Project status shows the projects' current status.
The column Status period shows the status the projects had then, within the specified period (not the current status)

In the Status period column, use the filter function to specify the project statuses that are relevant within the given time range specified. The list shows the projects that have had any of the specified statuses in the specified range. In the example below, in the Project Status column, you can see that two projects were completed after the period, and in the Project End column, the date it was completed.

Projects with High Costs and Low Revenues – Possibly Eligible for Invoicing

To find projects where we may be behind or be eligible for invoicing, the following filters and sorting can be used.

Set the relevant filters to be used and then sort the Earned Revenue column (click on the column once or twice) so that projects with the lowest Earned Revenue are at the top. You can then quickly see several projects and investigate whether they can be invoiced or if there is any reason (such as an agreed payment plan) that prevents them from being invoiced at the moment.

If there are many projects in the list, you can narrow your search by setting filters on costs above a certain amount and Earned revenues below a certain amount.

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How to Monitor Your Projects Using the Project Overview in Next Project