Manufacturing contracts are complex in nature. Learn what they mean for your clients by learning how to use our contract component in building What-If Scenarios.
Inside the Scenarios tab, once you create or modify a project, you will find the other components in the lower-right box. There is only one Other component you can choose to include in projects; New Contract. Read about this other project component to get a full understanding of how to forecast your client's strategic initiatives as accurately as possible.
1. New Contract
This project component allows you to forecast the implications new contract will have on the business over a given period of time.
- Start by giving the new contract component a name and decide on a start and completion date.
- If there is a retainage associated with this contract, select 'Yes' and enter the amount and expected payment date.
- Enter the estimated start-up costs.
- Estimate the total costs less any start-up costs and the monthly percentage to be incurred.
- Enter the total revenue to be earned and the monthly percentage received.
- You must fill out all 10 pieces of information in order to Add this component to your project.
Thanks for reading! We hope you were able to take away something useful for when you are working in the Scenarios tab. If you have any questions please contact your account manager, or reach out to us at email@example.com.