Implementing Project Portfolio Management: From Organization Structure to Recognized Revenue · Module 14 · Project Billing: Contracts, Invoice and Revenue Methods
Invoice methods
Lesson 145 of 198 · 14 min
Create an invoice method and enter basic information. Set the method classification — rate based, amount based, or percent-based. Create a rate-based method for time and materials, an amount-based method for fixed fee, and a percent-complete or percent-spent method. Show the method's effect on invoice generation, and a milestone or event-based approach. Rate-based bills cost transactions at bill rates. The professional services default. Amount-based bills fixed amounts, usually triggered by events or milestones. Percent-based bills a proportion of the contract value based on progress or spend. Note that percent-SPENT is easy to configure and REWARDS SPENDING — worth flagging to the client, out loud, because nobody intends that incentive and it is real. The method must match the commercial agreement. READ THE CONTRACT; do not assume.
The full lesson is part of the course
The video, the complete written lesson and the module quiz are included in Implementing Project Portfolio Management: From Organization Structure to Recognized Revenue, with a certificate on completion and a fourteen-day refund window.
In this module: Module 14 · Project Billing: Contracts, Invoice and Revenue Methods
- 1The contract dependency
- 2Contracts, lines and projects
- 3Bill plans and revenue plansFree preview
- 4Invoice methods
- 5Revenue methods
- 6Creating a contract
- 7Associating projects and tasks
- 8Contract types and approval
- 9Proving the association works
- 10What breaks
- 11Lab: a master agreement, a fixed price, and one task that must not bill