Where can you view financial metrics?
Financial metrics are available throughout Buildern, primarily in:
Project Dashboard, where you can monitor the overall financial health of a project.
Budget, where you can compare planned, actual, and projected costs.
Various reports and widgets that summarize project performance.
Although many metrics appear in multiple places, the Dashboard focuses on high-level project performance, while the Budget provides detailed cost analysis by Cost Code.
Dashboard Financial Metrics
The Dashboard provides a high-level overview of your project's financial health.
1) Contract Price
What it is: The original project value based on the Contract Estimate before any approved Change Orders are applied.
Formula: Sum of all Estimate item totals, including taxes, overhead, and insurance.
Purpose: Establishes the project's initial contract value and serves as the baseline for revenue and financial reporting.
2) Approved Change Orders
What it is: The total value of client-approved changes to the original project scope.
Formula: Sum of all approved change order items (including tax).
Purpose: Updates the project value based on approved scope changes.
3) Project Price
What it is: The manually entered project value in the Price field under the Additional Info section of the project.
Formula: Manually entered value (no calculation applied).
Purpose: Defines a custom project price that can be used for internal reference and may differ from the calculated Contract Price used for financial reporting.
4) Revised Contract Price
What it is: The updated project value after adding approved change orders to the original contract.
Formula: Contract Price + Approved Change Orders
Purpose: Reflects the current total contract value of the project.
5) Contract Costs
What it is: The estimated base costs of the original contract before markup.
Formula: Estimate item value ÷ (1 + Markup %)
Purpose: Defines the baseline expected cost of the project.
6) Revised Costs
What it is: The total estimated costs after including approved change orders.
Formula: Contract Costs + Approved Change Order Costs
Purpose: Shows the updated total expected project cost.
7) Actual Costs
What it is: The real costs incurred on the project to date.
Formula: Paid Bills + Approved Time Logs + Selected allowance option costs (if allowance bill calculation is disabled)
Purpose: Tracks actual spending for comparison against estimated costs.
8) Gross Profit (Planned)
What it is: The expected profit before indirect expenses.
Formula: Revised Contract Price − Total Project Costs
Purpose: Estimates potential project profitability.
9) Gross Margin (Planned)
What it is: The planned profit expressed as a percentage of revenue.
Formula: (Gross Profit ÷ Revised Contract Price) × 100
Purpose: Measures expected profitability ratio.
10) Actual Gross Profit
What it is: The realized profit based on invoiced revenue and actual costs.
Formula: Invoiced Amount − Actual Costs
Purpose: Shows current project profitability.
11) Actual Gross Margin
What it is: The actual profit percentage based on billed revenue.
Formula: (Actual Gross Profit ÷ Invoiced Amount) × 100
Purpose: Measures real profitability performance.
12) Completion Percentage (WIP)
What it is: Project progress based on cost consumption.
Formula: (Actual Costs ÷ Total Project Costs) × 100
Purpose: Indicates how much of the project is completed financially.
13) Earned Revenue
What it is: Revenue recognized based on project progress.
Formula: Completion % × Revised Contract Price
Purpose: Aligns revenue with project completion.
14) Work in Progress (WIP)
What it is: The difference between earned revenue and invoiced amount.
Formula: Earned Revenue − Invoiced Amount
Purpose: Identifies underbilling or overbilling.
15) WIP AA (Actual vs Allocated)
What it is: The difference between actual costs and allocated costs based on invoicing.
Formula: Actual Costs − (Total Project Costs × Invoiced %)
Purpose: Shows whether costs align with revenue recognition.
16) Approved Selections
What it is: The total value of selected allowance options from Selections with “Selected” and “Closed” statuses.
Formula: Sum of all Selections where status is “Selected” or “Closed”.
Purpose: Represents approved allowance-related selections included in the project financials and contributes to overall project cost tracking.
17) Invoiced Amount
What it is: The total amount billed to the client.
Formula: Sum of all client invoices
Purpose: Tracks billing progress.
18) Invoiced Percentage
What it is: The percentage of the contract that has been invoiced.
Formula: (Invoiced Amount ÷ Revised Contract Price) × 100
Purpose: Measures billing progress.
19) Paid Invoices
What it is: The total amount received from the client.
Formula:
Cash method: Sum of paid amounts of all non-draft invoices
Accrual method: Sum of all non-draft invoice totals − retainage amounts
Purpose: Tracks cash collection.
20) Paid Invoices Percentage
What it is: The percentage of the project value collected.
Formula: (Paid Amount ÷ Revised Contract Price) × 100
Purpose: Measures collection progress.
21) Remaining Balance
What it is: The unpaid portion of the contract.
Formula: Revised Contract Price − Paid Amount
Purpose: Shows outstanding receivables.
22) Remaining to Invoice
What it is: The amount not yet billed to the client.
Formula: Revised Contract Price − Invoiced Amount
Purpose: Identifies future billing opportunities.
23) Remaining to Invoice Percentage
What it is: The percentage of the contract not yet invoiced.
Formula: (Remaining to Invoice ÷ Revised Contract Price) × 100
Purpose: Shows remaining billing potential.
24) Cost to Complete
What it is: The estimated cost required to finish the project.
Formula: Max(0, Total Project Costs − Actual Costs)
Purpose: Forecasts remaining project expenses.
25) Price Per Area
What it is: The contract value per unit area.
Formula: Revised Contract Price ÷ Project Area
Purpose: Helps benchmark project pricing.
26) Cost Per Area
What it is: The project cost per unit area.
Formula: Total Project Costs ÷ Project Area
Purpose: Measures cost efficiency.
27) Related Costs WIPAA
What it is: The portion of total project costs allocated in proportion to invoiced progress.
Formula: (Total Project Cost × Invoiced %) / 100
Purpose: Shows how project costs are distributed based on invoicing progress, helping track cost allocation against revenue recognition
ℹ️ Note- If multiple estimate versions exist, dashboard metrics are calculated using the Contract Estimate. If no Contract Estimate is available, the Working Estimate is used.
Tax Handling
Most metrics are calculated in both tax-excluded and tax-included versions.
The system automatically handles tax calculations based on income tax rates and expense tax rates.
Use tax-included values for general management reporting unless specific tax analysis is needed.
Allowances
Allowances can be calculated using different methods (selections-based or other methods). The system tracks both budgeted allowance amounts and actual costs. Allowance differences are calculated and included in change order totals
Change Orders vs. Selections
Change Orders are formal contract modifications that change project scope or price. Selections are client choices within allowance items that may affect final costs.Both are tracked separately but contribute to overall project financials.
Project Health Indicators
Key indicators used to evaluate the financial health of a project.
Positive Gross Margin: Indicates that the project is profitable, meaning the total revenue generated from the project is higher than the total actual costs incurred. A positive gross margin shows that the project is performing well financially and is aligned with or exceeding expected profitability targets.
Completion % vs Invoiced %: Shows whether billing is keeping pace with the actual progress of work completed. This comparison helps identify underbilling (when work is completed but not yet invoiced) or overbilling (when invoicing is ahead of progress), ensuring better alignment between project execution and revenue recognition.
WIP Balance: Indicates billing timing issues by comparing earned revenue with invoiced amounts. A positive WIP balance typically signals that work has been completed but not yet billed, while a negative balance suggests billing is ahead of progress. This helps maintain accurate cash flow and revenue tracking.
Actual vs Budgeted Costs: Reveals how actual project spending compares to the original budgeted or estimated costs. This metric helps identify cost overruns early, monitor financial control throughout the project, and ensure the project remains within planned financial limits.
Cash Flow Management
Key metrics used to monitor incoming and outgoing cash flow throughout the project lifecycle:
Monitor Remaining Balance to prioritize collections
Track Remaining to Invoice for upcoming billing opportunities
Use Cost to Complete for forecasting future cash requirements
Performance Analysis
Used to evaluate project efficiency and financial performance over time:
Compare Actual Gross Margin vs Planned Gross Margin
Analyze Cost Per Area against historical projects
Review Completion Percentage for progress tracking
Budget Tab Metrics
The Budget Tab provides detailed financial tracking across Estimates, Bills, Change Orders, Purchase Orders, and Time Logs.
1) Estimates (Original Budget)
Initial project cost estimates broken down by cost codes. This forms the baseline budget including taxes and markup.
2) Bills (Actual Spending)
Vendor invoices recorded in the system. Includes Paid, Partially Paid, Approved, and Draft statuses.
3) Change Orders
Approved modifications that adjust the original budget and update the revised cost.
4) Purchase Orders
Committed future costs. Used for projected cost tracking (Released or Pending).
5) Time Logs
Labor costs tracked by cost code. Approved logs are included in actual costs.
Key Calculated Metrics
1) Original vs Actual vs Projected
Original: Initial estimated + approved change orders
Actual: Paid Bills + approved time logs
Projected: Purchase orders + bills not tied to POs + time logs
2) Variance Analysis
Difference: Original − Actual
Difference %: (Difference ÷ Original) × 100
3) Cost Completion Tracking
Cost to Complete: Projected Cost − Actual Cost
Left to Complete: Revised Budget − (Paid + Time Logs)
Key Insights
These metrics give a 360° view of your project’s financial health—from cost tracking and revenue to progress and cash flow. Use them to make informed decisions, identify risks early, and stay on top of both your budget and profitability throughout the project lifecycle.
You're one step closer to managing your projects more efficiently with Buildern.
Happy building!