System Configuration
The following configurations affect all projects across the company. These include setting up your labor pool, categories and departments. In addition you also set up project types and stages.
Each project will need a contract type. The contract type is used to determine the revenue recognition parameters throughout the project life. When a project is set up (see Step 4) you will be prompted to select a contract type.
Select Settings Option
Select Contract Type
Select the Add Button
Enter the Contract Type and Description
Labor Categories and Labor Rates are determined by management. These labor categories are standard labor categories for your company and are common across multiple projects.
Select Labor Categories
Select +
Enter Labor Code, Default Rate and Description
The Labor Code is mapped to your time keeping system. As payroll hours are submitted, they are used to track hours on the project to provide budget to actual reports. This information is used for budget to actual reports and revenue recognition. The Default Rate is established for the labor category. As a project is created, the budget will use this default rate. This rate can be overridden on a particular project.
Project stages are for resource forecasting. It include projects won (which will require resources as defined in the project plan) and an estimate of potential projects and the resources that will be needed if these projects are “won”.
RevLock allows you to enter various stages and weighted probabilities for each stage. The weighted probability is used to estimate additional resource requirements.
Select Pipeline Stages
Select Add
Enter Stage, Close Probability and Description
To add resources in your organization that are included in budgets and are assigned to projects.
From the Navigation Bar Select People
Select +
Populate appropriate fields
Select Add in the Rates Field
Populate the rate information
Select … to Save or Delete
Setup Contract Type:
Each project will need a contract type. The contract type is used to determine the revenue recognition parameters throughout the project life. When a project is set up (see Step 4) you will be prompted to select a contract type.
Select Settings Option
Select Contract Type
Select the Add Button
Enter the Contract Type and Description
Setup Labor Categories and Labor Rates:
Labor Categories and Labor Rates are determined by management. These labor categories are standard labor categories for your company and are common across multiple projects.
Select Labor Categories
Select +
Enter Labor Code, Default Rate and Description
The Labor Code is mapped to your time keeping system. As payroll hours are submitted, they are used to track hours on the project to provide budget to actual reports. This information is used for budget to actual reports and revenue recognition. The Default Rate is established for the labor category. As a project is created, the budget will use this default rate. This rate can be overridden on a particular project.
Setup Project Pipelines:
Project stages are for resource forecasting. It include projects won (which will require resources as defined in the project plan) and an estimate of potential projects and the resources that will be needed if these projects are “won”.
RevLock allows you to enter various stages and weighted probabilities for each stage. The weighted probability is used to estimate additional resource requirements.
Select Pipeline Stages
Select Add
Enter Stage, Close Probability and Description
Setup Labor Pool:
To add resources in your organization that are included in budgets and are assigned to projects.
From the Navigation Bar Select People
Select +
Populate appropriate fields
Select Add in the Rates Field
Populate the rate information
Select … to Save or Delete
Updated on: 19/02/2021
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