Title: Managing Methods for Forecasting Fixed Price Revenue
This Quick Topic section describes the three methods for forecasting fixed price revenue:
- Based on revenue being recognized based on the billing dates associated with WBS.
- Based on the percentage of estimated labor and expenses (Unanet plans or assignments/budgets) compared to the cost or hours budget on a project or task. Customers that support fixed price projects based on the delivery of milestones must be able to tie the pace of work with the pace of recognized revenue.
- Based on a fixed/custom revenue recognition schedule.
What’s covered in this document:
- Method 1 - FP Revenue Recognition - "When Billed"
- Method 2 - FP Revenue Recognition and Forecasting - "% Complete"
- Method 3 - FP Revenue Recognition - "Custom Schedule"