Project phase
GeneralA stage of a client engagement with its own dates, team and money, such as discovery, delivery or support. Phases let one project be planned, staffed and measured stage by stage.
Why it matters
An engagement can be profitable overall while one stage loses money. Measuring by phase shows which stages earn and which do not, which is what you need to price the next engagement.
Worked example
A 12-week implementation is split into Discovery, Build and Rollout. Build invoiced 40 000 against 34 000 of labour and direct cost, a margin of 15%, while Rollout ran at a loss because of late supplier costs.
In Flowtly
A phase is a sub-project of the client project, created on the project's Phases tab. The Phase margin tab gives each first-level phase a row with invoiced amount, labour cost, direct cost and margin, and costs dated after a phase closes still count against it.
Related terms
In the knowledge base
From the blog
See it live in Flowtly
Flowtly brings finance, projects, and people into one place — with live numbers instead of spreadsheets.