Need a project sales funnel? In other words, do you need to see the total estimated sales from your projects?
The Project Revenue Chart is designed just for that. It lets you see 12 months into the future to predict project revenue.
Each project has a win/loss percentage. It also has a Submitted/Won/Lost choice to help guide the chart. That means you can see only projects that are newly submitted, or verified to be won, or verified to be lost. So, not only can you see project revenue, you can also see lost revenue from projects you didn't win. But focusing on winning projects is usually where you'll spend most of your time.
Mike: Hi Mike with Standard Time® we’re back with Ray of Standard Time thanks for coming back Ray, I have a question for ya’. It’s a dousey. Can Standard Time tell me the revenue that I can expect from a project?
Ray: The answer is yes. Standard Time is more than just a timesheet. It’s a project management app as well. Project managers, PMO offices they’re able to look out into the future, see the revenue that they expect from their projects. They’re able to set the revenue expectations, the estimates, they’re also able to set the likeliness they’ll going to win a project. Some 100% we know we’re going to get that project, others not so much.
How about those not so likely ones?
Standard Time mixes those together so you see a typical sales funnel out into the future you see a bar chart that shows your revenue. When the revenue dips that’s the time to engage the sales team.
How about revenue for entire portfolios?
So that’s just segmenting your projects. You have portfolios of projects that might represent different industry segments, different kinds of projects you’re working on, different teams, different divisions. You put those in portfolios so you have projects here, projects there. They’re buckets, this is typical project portfolio management. You’re able to select a portfolio and see the revenue you expect for that portfolio and then compare it to another portfolio.
I know people are watching this and asking how do I get this and where do I find it? Why don’t you go ahead and tell them that.
They should go out to the website they’ll be able to download the windows addition or web addition. They can try this, put their projects in, set up portfolios if you want to they are optional. Set up the revenue expectations, the likeliness of each project to win and see that bar chart. If they go out to stdtime.com they can download right there.
Thanks so much Ray for joining us. stdtime.com, hit that download link.