STATUS |
DEFINITION |
TIP |
BEST PRACTICE |
Requested |
Campaign parent project: Newly assigned transfers yet to be scoped; on-boarding may be in progress. Full project plan is yet to be finalized. Subproject: A project budget or tactic that has not been kicked off to start planning process. This may be a placeholder of unscoped budget. |
Change State of these new funds from Requested to Draft or Active as soon as they meet qualifications. These funds are transferred in as soon as a client signs SOW so the client is still actively engaged. | Schedule an internal intake call as soon as a new transfer is received.
Ask for SOW prior to kick off and confirming payment terms to verify work can start during call. Ensure collective approval of SOW and go-forward plan at the onset of project to avoid likelihood of derailing. |
Draft |
Campaign parent project: Not used Subproject: A defined tactic or a budget placeholder that is in planning and we have intention to activate in a set month or quarter. You have a transfer that includes $30k of digital budget for content that will be defined after some strategy meetings, but you know it’s meant for Q1 Jan-March projects. Under the placeholder project you will have 3 milestones with $10k each, and Due Dates are staggered to Jan, Feb, March. You change the State to Draft to indicate it’s in planning stages. |
Responsibly plan for Draft and work to activate as soon as possible within the quarter it's set to Start. Evaluate Draft projects on a very regular basis, ensuring that move into Active State OR rescheduling to future dates if required. |
|
Active |
Campaign parent project: A parent project with Active subprojects should be made Active as well. Subproject: Fully scoped into defined tasks, budgeted, resourced, and ready to execute. Start/Due dates are set and resources will begin earning value against the project. |
It is important to schedule work out as far out into the future as possible. It is also important to allocate all budget and resources on the onset of a campaign. For retainer projects, set up monthly/quarterly sub-projects in active status |
Create campaigns in Clarizen using the full budget transferred in Salesforce at the beginning of a project. |
On Hold |
Campaign parent project OR Subproject: Project that is held up by client, waiting for payment, in process of re-scope. Has no clear path of next steps or timeline to move forward. |
When a project is on hold, make sure to notify the sales person and accounting. They can help get the project back on track. |
Check in on the status of an on-hold project weekly until it is back on track. |
Cancelled |
Campaign parent project OR Subproject: Project that will not continue; customer or TSL has decided to not move forward with the work. Reconciliation of funds spend in POs or earned through production will need to take place with Sales lead and Director of Finance to ensure payment for services rendered up to until point of cancellation as well as adjustments in Salesforce & Hubspot Deal. Subproject: Project that will not continue; customer or TSL has decided to not move forward with the work. |
Talk to sales person and customer experience to determine why project was cancelled. Project needs to be canceled in both Salesforce and Clarizen. | When cancelling in Clarizen, make sure that the main project is canceled as well as the sub-projects (canceling at main project level does not propagate to sub-projects). |
Project Phases & Functions in Clarizen | Creative/Digital Campaign | Integrated Campaign | Customer Journey Campaign |
New Project Transfer:
|
Operations | Operations | Operations |
Project Assignment:
|
Project Lead | Project Lead | CJ PM |
Ongoing Management:
|
Project Lead | Project Lead | CJ PM |
|
CJ PM | CJ PM | CJ PM |
Following standard Work Breakdown Structure (WBS) is critical to properly report on project progress and budget data points. If this hierarchy is not followed we will omit data or incorrectly report on budget available, revenue earned, project completeness, etc. for the campaign transfer and individual tactics.
Parent Projects: [Briefcase icon] There should be one Parent Project per Project Transfer Number (Ex. “Solutions II | MS-2565”). This is created by Operations.
Subprojects: [Briefcase icon] There should be at least one subproject for each budgeted service category or deliverable. This is the project level we report on for tactic progress and revenue. There should not be a subproject indented under another subproject.
Milestones: [Diamond icon] Milestones should be indented within subprojects. Tasks should be grouped within milestones for revenue forecasting and recognition purposes.
Tasks: [Clipboard icon] Tasks should be grouped directly under milestones. No tasks should be "floating" outside of a milestone or subproject; if they are, the effort put in will not properly translate to Actual Revenue.
Project plan build considerations for revenue forecasting:
If you need to move work items to fix your project hierarchy, you can use the Indent and Outdent functions. You can also use the Change Type function to convert projects to milestones, etc. These are shown in video below.
The following steps review TSL’s unique requirements for creating a project plan and entering necessary information.
Field Name | Complete the Field for Earned Value Type | Definition |
Revenue Department | Both |
Which department reports this project's earned value?
Templated projects have field pre-set Custom projects require entry. For list of categorization see Appendix. |
Earned Value Type | Both |
How should earned revenue be calculated and reported for this project type?
Template Projects have field pre-set Custom projects require entry |
Billing Type | Both |
This is the field that enables revenue forecasting and actual recognition. Choose "Fixed Price Milestone". Template Projects have field pre-set Custom projects require entry |
Lead-Based Program Price | Lead-Based | The total fee for outbound programs that have a price per lead |
Billable | Both |
Any project or expense-related subproject that is within the scope of work and has an associated budget is billable. All projects and tasks will be Billable by default. Billable Projects: Most tasks and meetings are billable to the customer, including project management, strategy management, client consulting/training calls & meetings, production execution, data analysis, reporting are all examples of billable project time. Non-Billable Projects: May include internal discussion about customer management, account ramp-up/training for new team members, etc. By choosing non-billable, all tasks/time within the project will have $0 budget dollars associated and progress will not count toward Revenue Earned Value. Enter $0 in the project's Fixed Price field on Non-Billable subprojects. |
Total SQL Goal | All Customer Journey project types |
In Lead-Based programs, enter the total number of SQLs promised to the customer In Effort-Based program, enter the total numbers of SQLs estimated/expected to deliver |
4. If the project has resource hourly billing rates that vary from the organization's default rates, override them per process shown here.
5. Plan projects’ related tasks, Work hours planned, Duration, Start Date, Due Date, and assign Resources. Guidelines for Customer Journey programs:
6. Customer Journey Hours and Lead Goal Planning: Expand the project to view milestones and enter lead targets into the “Weekly SQL Goal” field on the row of the corresponding weekly milestones. Guidelines for planning:
On Lead-Based projects, you will see the weekly milestones’ “Expected Revenue” amount recalculate to “Price Per Lead” X “Weekly SQL Goal”. Copy the updated "Expected Revenue" amount over into the "Fixed Price" field. Continue until “Weekly SQL Goal Totals” (planned SQLs) equals the “Total SQL Goal”.
Field Name | Use for Earned Value Type | Definition |
Weekly SQL Goal | All Customer Journey project types | Number of SQLs TSL needs to deliver within the week
Enter on the weekly Milestones under the related subproject |
7. Work Hours Planning:
8. If there are extra weekly milestones, mark them as "Cancelled". They can be reactivated if the program duration needs to be extended. You are complete with the Customer Journey project setup when the “Expected Revenue” on the subproject equals the “Lead-Based Program Price” (if Lead-Based) or reflects the budget for calling (if Effort-Based), and if the Weekly SQL Goal Totals equals the Total SQL Goal.
9. All projects require budget amounts in the Fixed Price field on the Milestone work item levels.
10. Action the following based on project type.
11. Change the Parent project State per the following guidelines:
a. Requested: Campaign just transferred
b. Draft: You are editing the project Work Plan, budget, etc. and the kickoff call/meeting has not occurred
c. Active: Internal kickoff call/meeting has occurred
12. Change individual subprojects’ State per the following guidelines:
Engagement Model | Project Status Scenario | State |
All | Have not confirmed with the client, and have not confirmed start/due date needs | Requested |
All | Custom Funds that require strategist recommendations, sales support, or client confirmation on scope | Requested |
System Advanced System | Recommended by strategist/in canvas but do not have confirmed start/due date. May need more discussion about how it relates to other work and/or client approval. | Requested |
System Advanced System | Recommended by strategist/in canvas and do have confirmed start/due date, but may need more planning details confirmed before we are ready to schedule for execution | Draft |
Campaigns/Tactical | Tactics defined pre-sale that have been confirmed with the client on initial kickoff call | Draft |
All | Production is ready to be scheduled for execution by the assigned resources | Active |
System Advanced System | Funds that are time-bound/TSL is accountable to execute & earn in future months/quarter that have been scoped | Active |
You are finished with initial project build when the entire budget has been allocated to scoped service projects, unscoped budget placeholder projects, and expense-related line items. The "Expected Revenue" on the Parent/Campaign project level should equal the campaign Opportunity Amount.
These are scenarios where a manager must update a project plan and revenue amounts.
Related Financial Fields for Reference (Not Editable Fields)
Field Name | Definition |
Expected Revenue |
Planned Work on tasks multiplied by assigned resources' billing rate On Lead-Based projects: Expected Revenue will automatically calculate with (Price Per Lead x Weekly SQL Goal) |
Revenue EV (Earned Value) | Completed work expressed in terms of Expected Revenue |
Actual Revenue |
Revenue amount that will be recognized
|
Price Per Lead |
Price charged per lead; what TSL will earn for each SQL On Lead-Based projects, automatically calculate as (Lead-Based Program Price / Total SQL Goal) |
% Complete |
|
Opportunity Amount | Budget amount for the entire SOW related to the transfer number. The total of all subprojects and expenses (captured in the parent Expected Revenue field) should never exceed this amount. |
It is the responsibility of the work plan Owner to set up and manage projects according to these best practices, to ensure financial data is accurate and reported properly. To that end we have "Quality Assurance/QA" reports in Clarizen that highlight any missing information or discrepancies with budget. They are sent via email every Monday morning and the manager must take required actions by the end of the day. This completes the necessary updates so Operations and Finance can review reported data on projects on Tuesday afternoons.
Dashboard: PM Review for Information Required on Projects: https://app2.clarizen.com/Clarizen/Dashboard/151806081
Interpreting the Data Point: Expected Revenue Does Not Equal Opportunity Amount
Projects must have full transferred Opportunity Amount budget planned, or at least noted with a placeholder project. This report shows amounts as follows to flag for action by the Project Manager.
Slides from presentation (revised on 11/13/2020) are linked here.
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