Overview

The main contract is the contract your company has with the client. Within the Project Contracts Listing Page, this contract has a "MY MAIN CONTRACT" pill next to it and is always listed at the top of the listing page. The steps below will guide you through how to execute your main project contract after starting the project in feasibility mode (Without Contract).

Process

  1. Select or create the project without a contract

  2. Navigate to Project Contracts tab from the project menu

  3. Select MY MAIN CONTRACT

Enter Contract Details/ Settings

  • Client Name will automatically populate from what was selected during project creation

  • Open Book: you can toggle on and off whether or not you'd want your client to see project data that can be shared via the app, such as project budget, documents, invoices, meeting minutes, and more. For more information on this, see here.

  • Project Name is automatically populated, and is linked back to the project dashboard

  • My Responsible Project Manager can be assigned here from your list of employees

  • Contract Name: this will typically describe the scope of work the client is performing, or types of services they are providing along with their company name

  • Contract ID can be edited here

  • Total Contract Value can be entered here, and the Quoted Items Value, which is filled in must match

  • Initiation Date is the date that the contract was initiated

  • Effective Date is the date that the services commence

Enter Quoted Items / SoV

Quoted items are used to describe the phases of work performed on the project and tie the contract values into the budget ACR. This will also eventually be the Schedule of Values used for billing purposes throughout the project.

If your contract is on-system, you can request the SoV from your client, or fill it out on your own. If your contract is off-system, then you will need to fill it out on your own.

If you have a template of Quoted Items, you can click Load Quoted Items. This can be set up by your Workspace Administrator. Read more here.

  1. Adjust the settings in the top bar:

  • Display Units: units allow you to calculate costs based on a specified quantity multiplied by a Unit of Measure to come up with the scheduled value

  • Require SoV Approval: select this to require the final SoV to be approved internally by a Project Executive or higher

  • Require Approval to Update SoV: select this to require the project team to have an approver unlock the SoV at a later time for updates

  • Require Cost Type: select this if you would like to match phases/tasks with a cost type (Labor, Equipment, Material, Commitment ...etc.). This is required if you are wanting to add exceptions to your Retention Rules.

  • Enable Cost Codes: selecting this will allow you to pair your company's internal cost codes with a phase/task of the SoV. The 'My Cost Code' column pulls cost codes entered at the company settings > cost codes configuration

2. Enter the quoted item description, then on the drop-down to the left, select the cost code for this item. If all the quoted items on this list will be tied to the same cost code, you can click Apply to all

3. Enter the quoted item value

4. Click Add Quoted Item to add additional quoted items, or Add Phase / + Task to break the cost down further

5. At the very bottom, you will see that the SoV Totals, Quoted Item Totals, and Contract Value must all match

6. If you have any alternates within your contract, you can add them below using the same steps outlined from 1-3 above.

Note: you can pause the contract creation process by clicking Actions > Save. This will allow you to come back and finish editing the contract at a later time.

Add Retention Rules

Enter the contract's retention rules if applicable.

Optional Steps

You can add any supporting documents for the contract in the Attachments tab.

Next Steps

Execute the Main Project Contract


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