TABLE OF CONTENTS

• What is WIP Report dashboard
• Who can access the dashboard
• Available Build Plans
• Dashboards features
• Calculations in WIP dashboard

What is WIP Report dashboard

Generally, WIP (Work in Progress) is a way of calculation the value of all your goods and services that are not quite finished. To monitor WIP indicator, observe changes in WIP from one period to the next, we use the WIP Report dashboard. The dashboard describes step by step the WIP figure calculation. It shows you budgeted expenses and revenue, actual costs consumed to finish a Build Plan, received revenue from a sale. Using these values, we can calculate adjusted spend and revenue according to the BP completion percentage, and thus determine the current and the previous month WIP.

Who can access the dashboard

To access to the dashboard, you should participate in the FSMFinancial user group. 

Available Build Plans

The list of Build Plans is the same as in the Status Dashboard.

An available Build Plan means that you somehow relate to this Build Plan. So:

• Membership in FSMFinancial user group gives access to the dashboard itself.
• Then, if you are a BP Owner, you will see all your BPs in the dashboard.
• You are a Project Owner — access to Build Plans of your Project.
• Next, you are a member of Project Role with active checkbox “has financial access rights” — accessible Build Plans where you participate.
• You have the Employee Role “All Direct Cost BPs Financials” — so you have access to all Direct Cost BPs.
• And the last one is the “Full Financial” Employee Role that gives advanced access to all Build Plans.

The default view of the dashboard includes all accessible active Build Plans with approved budgets.

To display other available BPs (closed, without budget), you should clear the checkboxes “Active Only” and “Has Budget”.

Dashboards features

For ease of use of the dashboard:

• Apply top filters to narrow search and display BPs for the specific Customer, Profit Center, Class or Market.
• Uncheck the default filters to display BPs with approved budgets, WIP.
• Use the date filter to view data as of a date. It will take Budgets, Financial Distributions given the selected date. If a BP has already been completed on the selected date, the WIP will be empty (Null). Go backwards to see the WIP on a date when the BP hasn't been closed yet.
• Click on the Excel icon to export data to an Excel file.
• Click on the row to open a BP details.

Click on the image or open the image in a new tab to enlarge it.

“Has WIP” filter shows you the BPs whose Current WIP and Previous Month Closed WIP is not zero or empty (cannot be calculated because a BP is already closed on the selected dates).

Calculations in WIP dashboard

The source is Budgets, Sales Orders, Client Purchase Orders and Financial Distributions. Each line presents a Build Plan, so all data is calculated within a Build Plan.

To calculate WIP, we need to know planned revenues and expenses, so a Build Plan requires the approved budget.

WIP is always calculated on a date: current or filtered.

When we apply the filter by date, we filter BPs approved budgets and Financial Distributions. We compare the effective date in a BP Budget and the FD's date with the filtered date, then take all data with a date less than or equal to the filtered date.

A note on completed BPs. If the a BP has already been completed on the selected date, the WIP will be empty (Null). Go backwards to see the WIP on a date when the BP hasn't been closed yet.

By default, the Budget Effective date is filled by the Budget Approved date during the approval process.

If this is the first revision of the Budget and a BP is started, then the effective date is equal to the BP started date and filled in during the approval process as well.

WIP can be calculated when a build plan has not yet started:

• There is a BP generated date.
• A Build Plan has an approved  budget with planned expenses and revenues are equal to or greater than 0.

Approved Budgets include current version of approved budgets and obsolete ones.

Here is the detailed table of what data is presented in each column.

Adjusted Baseline, Completion % — sets revenue and spend according to your completion percentage.

This group of columns is ruled by the system constant “BPPercentageCalc”.  The constant determines the method of how you calculate adjusted spends and revenue, and consequently the WIP.

Given that the constant defines of how we can get the BP completion percentage, it can be:

1. The estimated completion percentage (EC %) — it's put manually and stored in the Build Plan card. (Default configuration)
2. The percentage of spent (% Spent) — it is a ratio of actual spend divided to budgeted spend.

In the scheme below, we show how we calculate the adjusted baseline of spend and revenue according to the set configuration of WIP calculation.

We compare then your adjusted spend with the total actual spend, and adjusted revenue with current revenue. It will show us variances in spend and revenue.

Variance under/over spend will be always 0 if you use the percentage of spent. Using the 2nd method determines only variance under/over billed.

Another feature to calculate WIP is the constant “WIPPercentageforBPsWithoutBudget”. It shows you the expected margin — the percentage of sales revenue. We use it to calculate WIP for all BPs that do not have approved budgets or budgets at all (there is no projected revenue).

It can be (according to your preferences on WIP calculations):

• Empty or 0 — do not calculate WIP for Build Plans without approved budgets. Adjusted Spend, Adjusted Revenue, Variance Spend and Variance Revenue are also empty.
• Determined Percentage (more than 0) — means that a BP do not have budgeted revenue. In this case, we charge Actual Spend to the Actual Revenue account and adjust with the specified percentage.

Read next about WIP Summary dashboard.