Task Percentage Completions

Item

Description

% Complete

The percentage completion can be used (depending on the billing timing setting) to determine the amount of fee to be invoiced. If the task is not chargeable, then the percent complete is used to indicate progress on a task.

The percentage completion may also be updated from two other places:

▪The percent completions window which allows a number of projects and tasks to be cycled through one after the other. This is designed to be used on a monthly basis

▪Optionally from the resource planning window when updating the cost to complete, the percentage completion can be calculated as:

Actual Cost x 100%

-------------------------------------------

Actual Cost + Cost to Complete

The percentage completion has a number of different uses within the system, depending on whether the task is charged on a fee basis or not:

▪Fee Chargeable: It can be used to define the percentage of the fee to be invoiced

▪Non Chargeable: It is used to calculate the percentage of the work that has been done

Mark task as complete

Effective Date

Mark task as closed to prevent further bookings

Automated % completion method

This setting provides a facility for the percentage completion to be calculated from the duration, percentage spend or achievement of a task date. The actual percentage is not calculated here, this part just sets the parameters as to how the percentage is calculated. The actual calculation is carried out running the 'Calculate Percent Complete' option under the 'Projects' in the Timemaster Windows interface.

This setting allows the following charging mechanisms to be implemented by setting the charge timing to be by percent complete and calculating the percentage:

▪By % Spend would equate to monthly billing

▪By % Target would equate to percentage spend

▪By % Fee would equate to percentage spend

▪100% When Finish Date Reached equates to charge at end of stage

▪50% When Half-way through equates to two installments. One half-way and one on completion.

▪100% on Linked Finish Date equates to charging all the fee when a specific date is reached

▪50% on Linked Finish Date equates to charging half the fee when a specific date is reached.

Linked Task for Calculation

If the calculation method requires a task, the task code may be defined here. This option will only be enabled when the % Complete is set by a achieving a specific task date.

For example;-

▪Charge the fee for defects when the MGD date is achieved

▪Change 50% of a fee on practical completion

In the above two examples, the linked tasks would be the MGD or the Practical Completion task.