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Setting up your Projects

Forecastify tracks three different types of projects. A key consideration when mapping your real-life projects into Forecastify is deciding which one works best with each of them. The information on this page is intended to help you with this.

Fixed Price Projects​

  • The basic project: When you know ahead of time what the deadline is, what are the deliverables, and you can budget for them
  • Don't worry, Change Requests of the project can be handled easily within it. Even changes can be made at any time, but the system will keep a history and require a written comment once the project has started
  • Examples:
    • Any fixed price project with a fix deadline (CRs can be easily handled with Milestones)

Ongoing Projects​

  • Excellent for any project which has a monthly billing cycle, but isn't a flat T&M setup (that's the third project type!)
  • Contains three separate contract types, can handle occasional larger clumps of work or "mini projects" within itself
  • Examples:
    • Any arrangement with a monthly billing cycle
    • Fix monthly billing price
    • Fix monthly resource allocation

Fixed Pricing​

  • The assumption of the system here is that a set amount will be billed every month, and so each month has a set budget

Time bound​

  • The assumption of the system here is that a set amount of time is expected to be billable each month

Billable Tasks​

  • The assumption of the system here is that an agreed upon set of planned tasks will be completed and billed
  • This could be a Fixed Price Project - the reason this is here is so that each such package doesn't need its own project, and can be handled together with a number of a regular monthly activities

Outsource Projects​

  • A direct fit for outsourcing, but can be used for any type of Time & Material contract
  • The assumption of the system here is that whatever amount of time an employee logs onto a project like this will be billable, every month
  • For perfect clarity, you will need to specify every employee as a separate contract within the project
  • Time tracking for projects like this is incredibly easy: regardless of using an external system or SelfTracking, a single ticket is enough for all employees to use together, the system will separate them automatically
  • Examples:
    • Any outsourcing
    • Anything billed as T&M, like consulting