Project analytics is a powerful way to gain real-time oversight of projects, offering valuable insights into financial performance, progress tracking and allow projects to stay on track and within budget. By consolidating key data points such as internal and external costs against accepted estimates, project analytics enable data-driven decisions, you have the ability to monitor time, costs, progress, or invoices, project analytics to suit both you and your organisations requirements.
Project analytics is available in each project by clicking the Analytics tab, it has subtotals across the top of the page, with a detailed summary at the base.
1. Project Metrics
The 4 tiles across the top of the page are interactive, when selected, the data will update to provide the results. To help identify the data set you are reviewing, the border of the selected tile will go darker grey.
2. Definitions
Time Used | Time used represents the total time (committed and scheduled) on a project. The table includes the variance in hours and minutes, representing the difference between estimated time and total time. These metrics help assess time efficiency and track progress against the time estimated. |
Progress Value | Progress value is used to track the financial progress of a project. It shows how much value has been earned and forecasted, then compares it to the accepted estimated amount. The variance is the difference between the estimated value and the total value. |
Project Costs | Project cost represents the actual and forecast cost on a project. Gross profit can be calculated by subtracting the total cost from the estimated amount. The margin is a measure of profitability, this is calculated by finding the profit as a percentage of the estimated amount. |
Invoiced Amount | The invoiced amount compares invoiced amount to accepted estimated amount. This can help you check how much is remaining to invoice and ensure the project is fully billed at completion. |
Data can be further tailored to view based on:
Item Categories | As determined by your organisations price list information |
Item Type | These can be time, material or external costs. |
and grouped either against Estimated, or Invoiced by clicking the button highlighted in the screenshot below.
3. Key (Colour coding)
Colour coding has been used to delineate forecasted, or actual costs, these are:
Grey | No budget, or estimate has been accepted for the Project |
Green | Item tracking under expected amount |
Light Purple | These represent forecasted, or scheduled costs |
Dark purple | These represent actual costs, incurred by a Purchase Order, Bill or Expense |
Red | Tracking over accepted estimate |
4. Downloading data
In addition, data can be easily downloaded for further manipulation in external programs, allowing deeper analysis for other business processes. Click on the Download CSV and this should begin to automatically download to your machine.