Parent Project: UniPhi allows for a program of works within a portfolio to have an unlimited number of “child” projects underneath it. This is managed through selecting the Parent Project that the newly created project belongs to. Parent projects will consolidate budgets and contract costs and revenue for all children allocated to it. The Parent project will also display issues and risks that exist across the program (i.e. within each child)
The resulting project filter will look like this:
Currency: UniPhi supports an unlimited number of foreign currency translations. The currency selected here will be the default currency for the project and will be used to determine the currency project fees and costs have been estimated in. It is possible to have mixed currencies for contracts in the project, but these will be converted to a common currency in the fees, costs and reports module. The currency selected by default in these modules is based off the default selected here. It can be changed by the end user if they wish to see the end results converted into other currencies.
Win %: When fees, costs and hours are estimated, UniPhi will automatically adjust these fees in reports by the win % allocated to the project. The win % represents the probability that the organisation will win the job. The end result is a risk adjusted resource plan and cash flow forecast for the business. Win/loss ratios displayed in the Submissions dashboard can assist the user in determining a value for this particular field.
Revenue %: The fee % functions the same as the win % thereby compounding the risk adjustment factor. The revenue % adjustment reflects the likely reduction in fees that will occur through contract negotiation phase.
Private Project: If this box is ticked only resources assigned to the project can view it. Use great caution when selecting a project to become private as it is possible for the project to become invisible, i.e. if no resources are assigned to a project and it becomes Private.
Index Location: UniPhi can index historical costs based on CPI data. If your deployment in configured for this feature, select the Index location relevant to the project.
Project Description: This is a useful reference to other members of the project team as it provides a high-level summary about what the project is aiming to achieve. It is a free text field and the data contained within this panel can also be used to pre-populate documents generated from UniPhi.
Project Prioritisation Framework
Each deployment of UniPhi can configure a Project Prioritisation Framework which the user creating the project can complete to establish a projects’ priority. The prioritisation framework is displayed at the bottom of the create project screen. If you complete the Project Prioritisation Framework the result will automatically populate in this field once the project is created. Alternatively, you can enter in a priority manually. Project prioritisation allows team members to make discretionary decisions over work that needs to be completed at the same time. Knowing which project has a greater priority to the organisation can assist in the decision making, reducing the management time required to review and prioritise tasks.
Timesheets
Timesheet Tasks: defaults to a predetermined list that is visible to add work hours against the project when time sheeting. Standard tasks are used when work is completed on a project without specific contract deliverables. Examples of this type of work would be support work for a product that has already been commissioned or project management during a defects liability period in the construction industry.
Requires Approval: This option is selected if all timesheets entered and submitted require an oversight and approval.
Timesheet approval in UniPhi is based off the access level of roles on the project. If a project role has a program manager access level (as appose to a project manager or team member access level) then people in this role are able to approve submitted timesheets.
Rejecting a timesheet reverts the timesheet back to a “saved” state rather than a “submitted” state. The person submitting their timesheet can then amend and re-submit for approval. If timesheet approval is not selected then timesheets can still be reviewed in both the contracts module and via reports.
Timesheets can be “rolled back” to allow the team member to correct the error and re-submit. Only submitted hours are displayed in the contracts module while saved but not submitted hours can optionally be displayed in the timesheet reports.
Requires Comments: Select if daily comments next to each task are required for successful submission of timesheets. If this is selected, staff will not be able to submit their timesheets unless they have entered text in the comments field.
Primary Chart of Accounts
Revenue CoA: This sets the default Revenue CoA in Dashboard views and is required if you are auto Calculating NPV or Interest.
Internal Costs CoA: This sets the default Internal Costs CoA in Dashboard views.
Project Cost CoA: This sets the default Project Cost CoA in Dashboard views and is required if you are auto Calculating NPV or Interest. Note that if you are using an Internal Cost CoA for Interest and/or NPV you must select that CoA here.
Funding CoA: This sets the default Funding CoA and is required if you using UniPhi’s Feasibility module.
Interest
Interest Code: Select the code for auto-calculated interest to be allocated to. This references the Project Cost CoA selection in the Primary Chart of Accounts card. This calculates interest based on a net position and also requires a selection in the Revenue CoA in the Primary Chart of Account card.
Apply To: Determines if the interest auto-calculation applies to the Budget, Forecast or to both Budget and Forecast.
Interest Rate: Sets the rate of auto-calculated interest. This is an annual rate.
Offset (months): Allows for the month that the interest will apply to be offset.
NPV and IRR
Discount Rate: Sets the rate to apply for UniPhi to auto-calculate the NPV and IRR for the Project. The requires a Revenue and Project Cost CoA to be selected in the Primary Chart of Accounts card.
NPV: NPV stands for Net Present Value. UniPhi will auto-calculate the NPV value for the project if a Revenue and Project Cost CoA are selected in Primary Chart of Accounts card and you set a Discount Rate in the previous field. Alternatively, if not Discount Rate is set you can use this as a data capture field for NPV.
IRR: IRR stands for Internal Rate of Return. If UniPhi is auto calculating the NPV it will also calculate the IRR.
Risks
Risk Contingency COA: UniPhi’s risk management module allows for the build-up of a dollar value for risks in the project cost budget. Risks identified have contingency values allocated to them. The total of which is then transferred to the project budget via the relevant contingency code selected. Risk contingency dollar values are applied to costs, not revenue, so this is only relevant when managing a project cost budget. The code list available is all code structures that have “Contingency” codes flagged in their chart of accounts.
Risk Contingency Code: The account codes that have been flagged as contingency codes in the chart of accounts selected are displayed here. Selecting one code will provide for a default code selection when creating risks. This default can be changed for each risk identified but the default selected here should be the most common contingency code (e.g. construction contingency).
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