Key Monitoring Terms Flashcards
Net Service Revenue (NSR)
Net fee determined by subtracting consultant fees from the gross fee for the project
Planned cost
Labor hours and dollar amounts planned at Project initiation
Job-to-date (JTD)
Labor hours and dollar amount spent as of current date
Estimate-to-complete (ETC)
Labor hours and dollar amounts estimated from current date to project completion
Estimate-at-completion (EAC)
JTD plus capital ET see labor hours and dollar amounts estimated a project completion
Planned estimate at completion
Over/under calculation indicating labor hours and dollar amounts at project completion relative to planned estimates
Percent complete
Current work in place for the project phase or task express as a subjective percent complete and not based on the percentage of labor hours or dollar amount spent
Multipliers:
Break -even
(direct labor + overhead) / direct labor
Multipliers:
Overhead
overhead / direct labor
Multipliers:
Effective multiplier
current, subjective percent complete / direct labor
Multipliers:
Target
Firm-wide standard target multiplier, including profit target
Multipliers:
Planned multiplier
net service revenue / planned cost
Multipliers:
Estimate-at-completion (EAC) multiplier
total NSR/EAC labor dollars
Billed/invoiced amounts
Amounts bill to clients based on contract compensation amounts and percent complete
Earned revenue amounts
revenue recognized in the accrual accounting system based on subjective percent complete times net service revenue
