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

Contract types and approval

Lesson 149 of 198 · 11 min

Review contract types and what each governs. Show the approval workflow on a contract, submit and approve one, show an UNAPPROVED contract failing to generate an invoice, and show the contract status lifecycle. A CONTRACT MUST BE APPROVED BEFORE IT CAN BILL. Straightforward — and it accounts for a share of "the invoice run produced nothing." Contract approval routing usually involves Legal or Commercial. That is a different approval community from Finance; configure and communicate accordingly — and expect their response times to be different too.

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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
Contract types and approval — Implementing Project Portfolio Management: From Organization Structure to Recognized Revenue — MSAMM