Businesses that earn revenue from projects often complain about the difficulty to get a good overview of a portfolio of projects. The systems in place are doing a good job in showing all details for a project, but the context of the projects and how these all add up to the company’s performance, that is something which is very difficult to obtain. And mostly only in Excel.
This demo shows how you can get back in control with icCube dashboards on top of project data. It shows you the possibilities to zoom out on all projects to see the overall revenue streams and its projection towards the future. Also, it allows you to monitor the projects on an exception basis. That is, only focus on these projects that need attention now or in the near future.
This demo can easily be tuned to project driven organizations like, building companies, off-shore industry, consultancy businesses, installation companies, universities.to the project dashboard demo
To get an overview of the future revenue for a complete portfolio or even a business, you need to standardize the revenue valuation for each individual project. As a first step, you collect from all available source systems the historical revenues for the project. In addition, you process its latest expected revenue. With these two facts, you can calculated the estimated revenue per month for the remaining lifetime of the project.
When you repeat this calculation for all active (and potential) projects and you summarizes the results, you will get the complete overview for the company. Let me illustrate this using the demo itself.
For example, consider project 10003. You can select this demo as follows:
By clicking on project 10003, you will get the information on the revenue realized so far, the latest projected revenue estimate (budget) and a lot of other (calculated) information. Now focus on the following facts and see how the expected revenue per month is calculated for this project:
|start and end date||01 Sep 2015 -1 Mar 2019|
|budget||€ 1,986,813||latest estimate on the total revenue for this project|
|actuals ptd||€ 932,908||revenue realized for this project (project-to-date)|
|reporting period||Jan 2018|
|remaining||€ 1,053,905||revenue yet to be realized, based on LE|
|project time ptd||29||that is 13 months left|
|to be realized per month||€ 81,070||remaining / months left (1,054k / 13)|
Following the calculation in the comment in the tabel above, you’ll have the revenue “to be realized per month” for this project to be € 81,070. This means, that given the total budget, you can still earn this value for each month to come until project closure.
This is plotted in the folowing two charts, the first showing the values per period, the second showing the cumulated values (bud) including an extrapolated forecast based on the actuals (fcst):
To see the effect of all projects summed up, you need to select another dashboard, “revenue from projects”. Below the result. It shows a decline in future revenue for the complete portfolio, which is to be expected as more and more projects end, going forwad. In addition, you can see the result of pipeline projects, and a 3% growth target. Also, you can filter on portfolios by using filter options on top of the dashboard. For example, you could filter on funding party, client group, department and project manager.
When browsing through this demo, you will see many more of these analytical “nudgets”. Also remember, that although this demo focuses on universities, it can be easily applied to other project based businesses that have income from projects, like:
- construction companies (buildings, ships, machines, etc.)
- consultancy companies
- healthcare companies (applicable to products with a fixed fee)