It's easy to add a project to Price&Cost and start a new estimate

  1. Choose project name, if it's billable or not, client name, start date and other settings
  2. Add the People / Materials / Other cost that are applied to your project
  3. Enter planned time / quantities of your resources to be used on the project

1. Creating a project at Jul 03 23-02-46-Ajw.png

General settings

  1. Project name. This will help you easily identify the project in the list.
  2. Start date. Just choose when your project is about to start or when it has started (if you are adding a project that's already running).
  3. Billable setting. Choose if the project you are adding is internal (non-billable) or if it's going to be billed to the client.
  4. Client name. Defining a client will allow you to group and sort project in the list by client name. In addition, you will be able to define client-specific rates in the Resource section.
  5. Tags. Define tags to later ground or filter projects by in your dashboard and reports. at Jul 03 23-03-02-11c.png

Financial settings

  1. Billing type. Set your agreed contract type for the project.
  2. Profitability threshold. Set you desired Profitability goal

Once you've finished with defining the properties click "Add project".

Learn more about adding defining Profitability thresholds for your projects.

2. Adding resources to your project

You can add 3 types of resources to your project:
  • People - work that’s done by people and quantified in either man-days or hours.
  • Materials - all the materials you are planning to use on the project. These will be quantified in number of units.
  • Other Costs - all other costs you anticipate on the project. These will be items that are hard to quantify, e.g “Travel expenses”.

2.1. Adding People and their planned time

To add People to your project you will need to enter both:

  • Resource names / roles and their internal cost / client rate
  • The time you plan to use them for on your project
Learn more about adding People to you projects.

2.2. Adding Materials and their planned quantity

Adding Materials to your project is similar to adding People. However, Materials are priced per item and you will be entering the total quantity, rather than effort.

Learn more about adding Materials to you projects.

2.3. Adding Other Costs and setting if they are billable

Adding Other Costs allows you to add Total internal Cost for line items and set if they are Billable to the client.

Learn more about adding Other Costs to you projects.

3. Getting a full estimate

Once all your People, Materials and Other Costs are added to the project, you will get the full overview of your planned project Budget, Internal Cost and Profit.

4. Using metrics chart

Another convenient way to check your estimate is to use the chart of the Summary tab - it allows you to not only the overall metric (Budget, Internal Cost or Profitability), but also how it changes over the planned course of the project.

You can change the metric you are viewing between:

  • Budget
  • Internal Cost
  • Profit / Profitability

Let's take the following example:

The project has a budget goal of $45,000 set and we can see that we are safely under budget by the end of the project 

However, we are not getting the necessary profit margin. What's more, it's after week 6 of the project that we are going to below the set profitability goal

Now, that you have a first estimate out of the way, it's time to experiment with different versions to arrive at the final estimate so you can start tracking the project.