Manage Project Profitability

Article applies to 10,000ft by Smartsheet

With 10,000ft, it is important that you set a profitability target for each project and “bake” this profit into the budget (for the project and for each hour of a person’s time). For this reason, the tool functions to show external rates for people and projects.

For example, a project has a budget of $50,000 with a 20% profit margin. Each person bills out between $75 and $150 / hour. These rates also have a 20-30% margin. Now, when you track projects, the Project Status will help you hit that profitability target. It will show how much under or over budget you are in a %. We do not allow you to add two bill rates for people (their cost and their external rate), however, this can be easily monitored in the app by trying to hit your budget goals.

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