About Planning

The total fees for all hours entered onr the matter.

Tip: You can show / hide the Total Fees (Estimated Effort) for various users. Admin: Permission Group: Budget>View Total Fees in Planning & Budget Overview

The total budget estimated for the matter.

Tip: You can show / hide the Budget amount for various users. Admin: Permission Group: Budget>View Total Budget in Planning & Budget Overview

Phases are organized according to their associated fee arrangements. The following information is listed for each phase in the budget, with total figures before and after any invoice-level discounts/bottom of bill discounts or premiums, at the bottom of the list.

• Fee Arrangement: Fee arrangement that applies to this phase.(Mouse hover on the Fee Arrangement name displays a mini profile).

• Phase: Code and name of phase. (Click to edit the phases)
• Start/End: Start and end dates for phase.
• Hours: Total hours budgeted for the phase.
• Avg. Rate: Average hourly rate for timekeeper hours budgeted for this phase.
• Leverage: Ratio of non-Partner to Partner hours budgeted for the phase.
• Budget: Total amount budgeted for the phase.
• Profit Margin: (Budgeted amount- expenses) / Budgeted amount.

Tip: You can show / hide the Profit Margin column for various users. Admin: Permission Group: Sensitive Data> View Line Item Profit margin

• Realization: Budgeted amount / value of hours at firm standard rate.

Displays the number of budgeted hours, hourly rate, resulting amount (Hours X Hourly Rate), profit margin, and realization on an individual timekeeper basis for each phase included in the budget. You may enter/edit the information by selecting the pencil icon and entering the details.

Tip: You can show / hide the Profit Margin column for various users. Admin: Permission Group: Sensitive Data> View Budget Resource's Margin Column

The following information displays for each person/fee earner class included on the budget:

• Firm Standard Rate: Hourly rate based on the firm standard rate card for the matter currency.
• Standard Rate Card: Standard company rate for the selected timekeeper.
• Cost Rate: Hourly expense rate (salary).

Tip: You can show / hide the Cost Rate column for various users. Admin: Permission Group: Sensitive Data> View Cost Rate Column

Estimated effort is an account of work done based on hours estimated for each time keeper. This effort is only dependent on the rate card associated with the matter. In case where the Budget Mode is Monitor Only, the Estimated Effort will be same as the monitored amount provided.

Budgeted fee is the amount derived by multiplying time keeper hours with the matter rate, taking into account bill discounts and premiums. Discounts and premiums are calculated based on the fee arrangement associated with each matter. In case of hourly arrangements, this fee is taken into account to determine most of the profitability KPIs.

Switch between Spreadsheet View and Detail View.

This page is shown in a spreadsheet view similar to what you would see in Microsoft Excel, with the matter team members listed along the top and tasks or phases listed along the left. You can change any team member person to a fee class and vice versa by clicking the drop-down under a person's name or fee class's description.

Amount & Task Code Budget:Enter the total dollar amount anticipated to be spent on each task in the Task Amount column. For each task, enter a percentage for each applicable team member, indicating the percentage of hours for each task that will be worked by each team member. The following columns then update:

• Percentage: Total percentage of the task amount that has been allocated. Must equal 100% for each task or you will be prompted to make adjustments before proceeding.
• Average Rate: Equal to the weighted average of the rates of the resources assigned.
• Hours: Equal to the Task Amount divided by the Average Rate.
• Add Task: Click to add tasks to the Phase.

• Predicted Net Margin - Automatically populates after values above are entered. Calculates the predicted net margin percentage (revenue remaining after all operating expenses have been deducted from the total revenue).

• Assumptions: Enter any additional information regarding resource assignments for this budget.

The Amount and Leverage fields at the top of the screen also update accordingly. The Amount is the total budgeted for all tasks in this phase based, while the Leverage is the ratio of non-partner hours to partner hours entered for this phase.

Hours & Task Code Budget: To fill out the spreadsheet, for each task, enter the anticipated number of hours expected to be worked by each team member in the corresponding column. The following columns then update:

• Hours: Total number of hours anticipated to be worked on this task.
• Average Rate:Equal to the total number of Hours entered for this task by the total Amount budgeted for the task.
• Amount:Equal to the sum of the hours entered for each employee for this task times the employe rate.
• Add Task: Click to add tasks to the Phase.

• Predicted Net Margin - Automatically populates after values above are entered. Calculates the predicted net margin percentage (revenue remaining after all operating expenses have been deducted from the total revenue).

• Assumptions: Enter any additional information regarding resource assignments for this budget.

The Amount and Leverage fields at the top of the screen also update accordingly. The Amount is the total budgeted for all tasks in this phase based, while the Leverage is the ratio of non-partner hours to partner hours entered for this phase.

For other Budget Types, you also have two options for entering additional tasks/hours:

• Click Add Hours to enter hours worked by a specific person or fee earner class. You can select a Task Code (only tasks associated to the current phase are available) and optionally enter a Description to further describe the work.
  It is required to enter the number of Base Hours, but you can optionally also enter the number of Hours per Week and the number of Weeks that make up this total. Indicate any hours that will not be billed in the Write-Down Hours field.
• Click Add Template to import tasks from a particular template and add them to the budget. You can then modify hours and amounts for any of the newly added tasks. Click the pencil icon to the right of a task to assign/reassign a resource.

Here you can enter any vendor invoices that should be included in the budgeted expenses. The following information can be entered:

• Type of Service- Select the option that best matches what service was performed.
• Sub Type- Optionally specify a service subtype to further break down what this portion of the invoice balance is paying for.
• Paid by Client- Select this checkbox if this invoice will be paid by the client rather than the firm.
• Description- Optionally enter a description for what this invoice is billing for in relation to this matter.
• Task- Select the task this invoice is associated to.
• Quantity/Unit Price- If this invoice is for something quantifiable, you can optionally enter this information.
• Amount- Total amount of the invoice.

You can modify basic information for each phase, including the following:

• Phase Code: Code and name of the phase.
• Phase Closed: Select this checkbox if the phase has been completed.
• Start Date: Date the phase began or will begin.
• Duration: You can define duration in one of the following ways:
  • Select Days, Weeks, Months, or Years from the drop-down menu and enter the amount in the Duration field.
  • Leave the Duration field blank and select Specified Date from the drop-down. Enter the date in the End Date field. The phase will run between the start and end dates specified.
  • Leave the Duration field blank and select Ongoing from the drop-down.
• Budget Recurrence: Select Phase budget (no recurrence) if a total figure is budgeted, or Monthly Budget if the budgeted figure will be spent each month.

• Budget Mode: The field populates based on the budget mode selection made in the wizard and cannot be edited.

  • Monitor Only: Enter a target amount for the phase without making personnel/hours assignments.
  • Hours: Assign personnel and target hours for the phase, and derive the amount based on this information.
  • Amount: Enter a target amount for the phase, and then assign personnel/hours accordingly. You can simply select a predefined team, or you can do detailed planning that will allow you to modify personnel, hours, and percentages on a person-by-person basis.
  • Tasks: Build a budget by adding individual tasks at each phase and modifying the associated activities as necessary. Personnel assignments are made at the activity level.
  • Hours & Task Code: Choose team members and determine the number of hours each team member will spend on each task. The budget amount calculates accordingly.
  • Amount & Task Code: Enter a target amount for each task within the phase, which adds up to the budget total. Assign the personnel who will be performing each task to determine the hours required.
  • Task Code Monitor: Enter a target amount for each task without making personnel/hours assignments.
• Fee Arrangement: Select the fee arrangement that should be applied to this phase (based on the arrangement created on the wizard; pricing model, matter, client, or firm).
• Rate: The field populates based on the previous fee arrangement selection and cannot be edited.
• View Option: Select Spreadsheet View or Detail View.

• Assumptions: Enter any additional information regarding the phase.