When creating a new project, you can choose the project Charging Mechanism. The options are Time and Materials or Fixed Price.
Note: Once you have saved your choice only a Project Manager or above can amend this.
- A Time and Materials project has a total Revenue and Cost that can vary with time, and usually these are linked. If people work more on this project, both the predicted Revenue and Cost increase. Selecting Time and Materials means that Topsail will automatically calculate Revenues and Costs from timesheet submissions allocated to the project.
- A Fixed Price project has a fixed revenue, but the costs are variable (The costs can be an arbitrary figure decided at the start of the job/opportunity or can be based on time worked by People on the project). Selecting Fixed Price means Topsail will use the expected Revenue entered at project set up and will not use timesheet submissions to make calculations.
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