Using the Pricing Feature in OpenAir

The Project Pricing feature lets you create pricing estimates for specific projects based on different staffing, rates, and time required scenarios, and automatically view the key financial analysis for those scenarios.

The feature can be enabled at the project stage level.

 

It is displayed as a link under the financial tab within a project.

Revenue and cost can be generated using rate cards along with either job code estimates for a high-level estimate, bookings for a more detailed estimate or task assignments to achieve a more granular estimate.

You also have the ability to choose a percent probability of closing from the dropdown menu.

Check the “Staffing approved” and “Finance approved” boxes to indicate if this scenario has been approved by Finance or Staffing functions. These check boxes will only be visible to users whose roles are set up to modify finance or staffing approval for project pricing.

You can see a financial snap shot of your scenario by clicking on the “Analysis” link. The snap shot includes key revenue and cost parameters, discounts, profits and margins. By default, the analysis applies to the entire period of the project.

The weighted net revenue line represents net revenue weighted by the closing probability entered in the pricing scenario setup.

The snap shot dropdown menu lets you save a snap shot of the current analysis. You can also view previously created snap shots.

The data can also be viewed by running the “Pricing analysis” report found in the Advanced reports.