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Implementing Project Portfolio Management: From Organization Structure to Recognized Revenue · Module 14 · Project Billing: Contracts, Invoice and Revenue Methods

Creating a contract

Lesson 147 of 198 · 14 min

Create a contract: type, customer, currency, dates. Add a contract line with an amount. Add a bill plan using an invoice method and a revenue plan using a revenue method. Set the billing controls — hard or soft limits — and the invoice and payment terms. HARD LIMITS STOP BILLING AT THE CONTRACT VALUE. That is a genuine control and it stops invoices going out. Confirm the client wants it before enabling — failure case three is a client who did not realise what they had asked for. Bill plan and revenue plan are added separately. Seeing both configured is the separation from Lesson 3, appearing in the interface. Currency on the contract may differ from the project. Configure deliberately.

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In this module: Module 14 · Project Billing: Contracts, Invoice and Revenue Methods

  1. 1The contract dependency
  2. 2Contracts, lines and projects
  3. 3Bill plans and revenue plansFree preview
  4. 4Invoice methods
  5. 5Revenue methods
  6. 6Creating a contract
  7. 7Associating projects and tasks
  8. 8Contract types and approval
  9. 9Proving the association works
  10. 10What breaks
  11. 11Lab: a master agreement, a fixed price, and one task that must not bill