Whiteboard: Project Revenue Win-Loss Graph

Got a crystal ball, fortune teller? Can you see future project revenue? No you can't!  Sorry, but you can't.

But this comes close.  :)

Future Project Revenue

Scroll down for a sweet and awesome project revenue video.

"Give me your hand"

"I see a long and prosperous future"

This bar chart shows future project revenue based on simple sales funnel settings. Those settings include a percentage of likeliness that you'll win a project. A status setting for "Submitted" "Won" or "Lost" is also included.  The bar chart blends revenue into time periods based on your proposed date range. Get enough projects in the pipeline, and you can get a reasonably accurate picture of your revenue. The more projects you have, the more accurate the sales funnel will be.

You may not be able to tell the future, but this looks pretty tempting. Scroll down below the video for more.

What is a project funnel?

A funnel has a large opening at the top and small one at the bottom. Liquid sloshes around at the top, sometime spills out, but finally makes its way to the bottom. Projects that are dumped into a project funnel are similar. The "top" of the funnel is the beginning of the sales cycle. You have a lot of candidates, but not all work out. You win some and you lose some. Watch another project funnel video here.

           "We're winning about 53% of our projects"

"Can we increase that to 58?"

Hopefully, a majority of those projects end up as signed contracts with revenue. Those projects are the ones at the bottom of the funnel. Although you may not know which projects you will win and which you will lose, you may have an idea of their likeliness to close. The graph uses that percentage of likeliness and the possible revenue for it's values. It also uses the start and finish dates for the project.

This information is all that is needed to plot monthly sales bars representing projected revenue over the coming year.

"Yes, but we need..."
"Slicker project proposals"
"Personal contact with customers"

How does a project funnel differ from a sales funnel?

A project funnel and sales funnel are pretty-much the same. This is a project tracking and timesheet app, so everything is project oriented. It is not a CRM where everything is customer oriented. You have a different app for that. Everything here relates to projects -- when will they start and end, when will revenue be realized, who is working on them? Etc, etc, etc.

"This compliments and verifies our CRM app"

How can a win-loss graph help me?

What if you could look out into the future and see awful months where no revenue is coming in? Or what if you saw months that exceeded your capacity to deliver? Have you ever wondered if your revenue is rising or falling? Is one portfolio of projects doing better than another? Those are the questions answered by this bar graph.

"I think we're going to be okay"

This article Whiteboard: Project Revenue Win-Loss Graph was first seen on http://www.stdtime.com