Project managers of Time and Materials contracts must be able to compare the cost of employing the staff and vendor work force that they have assembled for a client to what has been agreed upon in advance as proper reimbursement.
The application provides a detailed report for cost, based on the burdened cost of each resource, and a detailed report of potential reimbursement, based on individually assigned billing rates applied to individual resources.
Budgeting & Planning also integrates the cost and revenue in a special report that allows the profit of individual resources to be determined by comparing cost and billable revenue by person.
Because the T&M negotiated billing rates apply to categories of the assembled work force, the project manager must be careful to maximize value to the client by delivering the proper talent while minimizing cost to the project. Budgeting & Planning’s dynamic T&M reports provide the details of such profit analysis by individual so that the necessary adjustments can be made on an ongoing basis to maximize profit.