Hey Warren. You had mentioned a chart that I wanted to see project estimates or revenue estimates…
Yes, that’s right under the View menu and then scroll down to Project Revenue. It’ll pull up this little bar chart. You see I have a nice little bell curve and it displays all the estimated revenue for the coming year. And you’ll notice way down here towards the end of the year it’s dropping off a little bit. That’s because our sales team filled up the first ¼ of the year with work because it’s in the near further. And as we work through the 1st quarter they’ll bring on new jobs and more projects and fill up the revenue toward the end of the year. ‘Cause obviously we need to more than $12,000 in December worth of work. So that will happen as the year progresses.
So there won’t be a bell curve at the end of the year; you’ll fill out the rest of the year. I have a question about the Win Status drop down. Could you pop that open and tell me what’s in there?
We’re looking at the Submitted and won status right now, that’s what’s currently being displayed. And if you wanted to you could just say show me all work that has been submitted. In other words sales teams have submitted these jobs and they’re possibly going to land them but not sure yet. And as you go through the process, you want to see everything you’ve won to date, you can look at that. This is all the work that’s guaranteed, signed the contracts and ready to roll. Or you can show the inverse, which is a painful number to look at but important to know how much revenue you’ve lost in the coming year out of expected or possible projects.
OK. Then you have some drop downs at the top with the project and client. I’m guessing that just lets you see one project.
Right. If I want to see just one project I can click on that project and see only that project. Of course the default is to see all the projects. And you can do the same for clients. I won’t jump into all that but you can see a particular client.
How do you get these vertical bars to show up?
Let me show you. You go to the Tools menu. Choose the first item called Projects. Once you select Projects you get the Projects Properties dialog and it shows all the projects in the system on the left hand side. And once I click on a project all the properties now on the right side of this window that pertain to that project. And what you want to make sure you do is select a start date for the project, a finish date for the project. And once you get those two basic date parameters in here then you throw in your estimated revenue; it will spread that revenue evenly over that date range. In addition you also have the option of selecting which stage or what status this project is in. Has it been Submitted, have we Won the project or has it been Lost. If it’s in the submitted stage you can also determine what your win probability is. Do you want to say we’re 75% sure we’ll get this or whatever that number may be.
So that’s the Sales funnel sort of model where you crunch the numbers down and find out what your probable revenue is.
Exactly. It gives you a good estimate what you can expect to land.
Can you pull up that chart again? I just want take one last look. I think I have all my questions answered but want to see it again.
Just go to the View menu, select Project Revenue and there it is!