The Pro’s Corner: Changing Project Resource Rates in One Go

You set rates on projects for resources using the assignment calendar available in projects, and now it’s time to change rates on some or all projects.

Accessing each project and going to rate assignment for each resource quickly becomes fastidious.  Rate changes on projects from the resources management is for you.

Enter in resources management window, select the resource to change the rate and click on the contract assignment icon  in the tool bar.  All projects on which the resource is already assigned are displayed and checked to apply the process.

Make sure to select only projects on which you want to apply the new rate, click on the rate change icon  and enter your update parameters.

First select the date from which the new rate must apply.  The ending date is optional. Select whether you want to apply a new fixed rate or apply a markup/markdown on the existing rate and specify the value.  Note that the markup/markdown option is computed on a 100 percent basis.  E.g. if you enter 110 then a 10 % increase on the existing rate will be applied.  If you enter 85, then a 15 % reduction will be calculated for all existing rates.

This process will close the previous rate set on the project.  If no date was set as ending date on the previous rate calendar, the day before the beginning date of the new rate will be set as the ending date of the previous rate.

Each resource must be processed separately.

After having made the change for all resources, if you think that some timesheets may have been entered with the old rate for a date on which the new rate should apply, do not forget that the rate adjustment icon , available in Timesheets detailed entry window lets you apply the new rate by batch for all resources for a time scope.

Cyber Abak, June 2011 Edition, is out!

Abak LogoSummer vacation season is starting – will you be able to take some time off this summer? At Abak, summer is going to be busy as ever:  With Abak 7.3 and Abak Web being released, the Summit trade show in July, and our annual survey, we’ve got our work cut out for ourselves!

I’d like to take the opportunity of the strike at Canada Post to ask you if you’re invoicing your clients by email yet. If you’d like to do it, contact training@abaksoftware.com!

Enjoy!

Managing Time Accruals – No Headache Required

Santa Claus Giving Treats to Young Women on the Beach: Saint Petersburg, FloridaTime accrual, such as vacation or sick days, tends to be centralized in the human resource management system. When a team member wants to know how much vacation time or how many sick days she has available, she has to ask the administration team. When the team is small, this is not a big deal, but when dealing with dozens of employees, answering time accrual questions can be time consuming.

Abak can manage time accruals automatically, and provides the information directly to team members from the time sheet interface. Not only can each employee see the status of their vacation accruals, but they can also see the details of vacation time earned taken in the last year. This makes it convenient and easy for employees to manage their vacation days and sick days, without intervention from the administration team. It also avoids surprises on payday, since it’s so easy to one can know whether we have accrued enough vacation days, for example.

Time bank management is a standard feature in Abak, available to all clients. If you’d like to know more about time bank management or implement the feature in your organization, contact us!

A classic is back: Efficient Abak

AbaKast training sessionsDo you feel lost in Abak? Do you feel like things should be simpler and easier? They are! You just need to learn the tricks!

AbaKast 101:Understanding how to use Abak efficiently

June 14, 2011
1h30 – 3h30pm, Eastern Time

Learn all the time-saving tips and tricks in Abak:

  • Configuring Abak and understanding how all modules work together
  • Ergonomics: using the interface, column properties, filters, server requests, active windows,  etc.
  • Time sheet tips and tricks

Only 69$

Register now!

* We recommend being up-to-date with Abak 7.2 to get the maximum out of this AbaKast.

Also, check out the full training schedule here

Why keep a client that’s not profitable?

Pomerene Let’s look at product management for inspiration. Let’s say we are making widgets. If our cost for making the widgets is higher than the price we can sell them for, would it make sense to keep making the widgets? I think not!

Then why are we doing this in the consulting world?

We sometimes have clients who generate so much non-billable time that it eats up all the profit from the billable time we charge them. And yet, we keep those clients. Why? Could it be because we don’t know the client is costing us money?

We need to connect our costs to our clients. At the very least, we should record when we work for a client, even if it’s non-billable time. At the end of the year, we’ll be able to see if the billings for that client covered our costs, including that of non-billable time. If a client consumes a lot of non-billable technical support time, for example, then we can adjust the billable rate for that client for the coming year to compensate for the non-billable costs associated with a client.

Too often we only look at the billable work done for the client. This gives a biased outlook on the client’s profitability. If we include hidden costs such as non-billable work done for the client, then we paint a more accurate picture of that client’s contribution to the firm’s success.