Contract financial information

Financial values for the contract can be categorized as:

• Commitment - The initial contract award value and any changes to the committed value.

• Expenditure - Payments made against the contract commitment.

Communications which contain financial values can be assigned to commitment or expenditure reporting categories. These classify the values as Approved, Pending or Potential. See Communication reporting categories for more information about communication reporting categories.

The financial values associated with the contract can be viewed and managed in the following areas:

• Contract snapshot - displays a summary of the contract's budget, commitment and change values, and expenditure values.

• The Financial Health page - displays more detailed information about the contract's budget, commitment and change values and expenditure values.

  • Financial Health Summary - includes a graphical representation of commitment and expenditure values, compared to the Approved Contract Budget and Not to Exceed Contract Value.

  • Financial Health Breakdown - displays information about the contract’s commitment, change and expenditure values, along with details of these for all line items, grouped by their associated breakdown item.

• Contract Breakdown tab - lists the breakdown items, line items and progress measures defined for use in the contract, and allows the management and linking of these.

  You can import breakdown items, line items, progress measures and rates from a Microsoft Excel spreadsheet, and also use the spreadsheet to manage the linking of rates and progress measures. See Import contract setup data.

• Line Items page - a summary list of all line items configured for the contract.

The following image shows how the different items of contract financial information are related.