The June product update is out and it’s a bit of a star. In fact, it’s five stars! We’ve just released a new Enterprise feature called project performance. This helps you measure the health of your projects using the earned value management methodology (EVM).
The benefit — quickly see your project health with a star rating, then drill-in it to see specific aspects and figure out how to get it back on track.
See an overview video below and sign up for an intro webinar to find out all about it.
NEW — Project performance — earned value management (Enterprise only)
The new project performance page enables you to show your estimated completion date and estimated cost at completion for all of your projects. Read more below and check out this intro video.
Easy-to-decipher graphs and scales
For the visual people among our customers, you can now monitor your costs and schedule in beautiful graphs and sliders.
A handy slider tool shows you your actual progress against your planned progress. You can see how each stage, phase or your project as a whole is tracking. Update your stage progress right from the slider scale. The slider scale is also linked to the progress bar in the work breakdown, so no doubling up of work.
Performance metrics and indexes
For those of you who are more numbers inclined, we have lots to get your teeth into.
Simple index values show your overall performance. Values greater than 1 mean you are ahead of plan. A slide-in panel shows all the performance metrics you need to easily identify problem areas with tangible values. This means your project manager can quickly see the likely impact deviations from the schedule and budget will have.
For those who are new to this type of information, each metric has a handy tooltip to explain what it is and how it’s calculated. Just hover your mouse over the question mark symbol.
Project star rating
Along with the project performance page is a star rating for project health. This is visible in the projects list and can help directors identify any projects in distress at a glance. Five stars is ridiculously healthy, one star means that project is underperforming somewhere and needs to be looked at.
The star rating looks great and involves some complicated calculation in the background. We recommend Synergy users spend some time reading up on it or sign up for the intro to project performance webinar later this week.
Note: to get the star rating to work, there is some set up required. Synergy users — we strongly recommend logging in to Synergy to read this FAQ article (Synergy login is required): https://syn.gy/project-performance-FAQ.
UPDATE — Accounting add-ons
If you are using any of our supported accounting packages and invoice across multiple offices, you can now filter by office location in the ‘Include by invoice office’ field. This is not visible if you don’t have multiple offices.
You can now filter by invoice prefix and project prefix in QBO.