This is an example pretty close to the previously presented, but here we will go through the full process of creating such a project. This is the most basic version of Fixed Price in which we agree on the same amount paid every month.
This is a hypothetical example!
John's company has acquired a project deal with Company A. Company A proposed a 3-month deadline and a 50,000 € monthly payment. John goes to Primetric and starts creating a project.
- Let's create a Fixed Price project lasting 3 months.
- Let's go to the Budget tab, and go to the Scheduled tab.
- In the Incomes, for each month, click blue pencil, and type in the same amount for payment.
- Let's go to the Report. Here we will see that for each month we have the same amount for scheduled income and profit.
- Now let's add an employee. While we can add him with "No utilization", this would hinder our finance report's ability to show us estimates of the costs. So we will add him with a monthly hour quota.
- Since there are situations in which our employee will be needed for other projects, we will check his work as "Background work" (1). We also need to go to our Profile and uncheck the box "Background work" so that his work won't count towards scheduled utilization (2).