When creating a job or an opportunity in Metis, you'll make some important decisions, which affect how you're able to monitor the job/opportunity's progress through its duration.
You first need to decide on:
- the Job/Opportunity Type
And later once the job/opportunity has been created, how you plan to drive the budgets:
- is this Job/Opportunity 'revenue-driven' or 'effort-driven'?
This article contains:
What's the difference between Fixed Price and Time & Materials?
Broadly speaking, a Fixed Price Job/Opportunity 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.
A Time & Materials Job/Opportunity 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.
You define whether a job is Time and Materials or Fixed Price when you set it up. Once you have saved your choice it isn't possible to amend this setting later. You can change an Opportunity's type, but once you convert it into a job the same applies.
What's the difference between revenue-driven and effort-driven?
Once you've created your job/opportunity, the next step is to decide how you'd like to drive your budgets. Click here to read the article on the two ways you can do that; revenue-driven budgets and effort-driven budgets.
How do these choices affect what I see in Metis?
Click here to read how your choice of both job/opportunity Type and how you drive your budgets affects what you'll see on the Forecast tab.
Didn't find what you need in this article? You can submit a support ticket or send an email to support@getmetis.com.