GBS Project Service Center: Financial Process Monthly Reporting (IPPF)

PSC NA Financial Process Monthly Reporting (IPPF)
GBS Project Service Center

Financial Process
Monthly Reporting (IPPF)
Document Version Control
Document version:
Version 1.0
Document status:
Posted
Owning process:
Document file name:
PSC NA Financial Process Monthly Reporting (IPPF) v1

09-20-16.doc
Revision history of this document:
See below
Version
Number
Revision
Date
Change Description
Changed
Name
Approved
Name
08-03-2006 Updated overview section; added Compass

draft procedures
Jennifer
Conlon
08-15-2006 Updated with team comments
Jennifer
Conlon
09-26-2008 Updated for Compass Version 2
Lee Fanello
11-14-2009 Update with Financial Forecast, Financial

Summary Analysis and change document
name to Instructional Guide
Lee Fanello
12-22-2011 Updated forecast window to 5W
Kelly Intille
08-06-2012 Review
Sharon Gallo
09-20-2016 Update to NA Version 1
Sharon Gallo
2.1
Last Update 9/20/16
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Work
Ref No.
Table of Contents
GBS Project Service Center..................................................................................................... 1
Financial Process..................................................................................................................... 1
Monthly Reporting (IPPF)...................................................................................................... 1
Instructional Guide Overview............................................................................................... 3
Process Overview & Map...................................................................................................... 5
Business Process Step-by-Step Procedures..........................................................................6
Step A: Financial Information requested by Project Leadership........................................6
Step B: Labor Report........................................................................................................ 8
Step C: Travel Report..................................................................................................... 10
Step D: Ledger Summary Report....................................................................................10
Step E: Change Log........................................................................................................ 11
Step F: Clarify Report Requests......................................................................................11
Step G: Perform Quality Checks.....................................................................................12
Step H: Summary of Significant Findings.......................................................................12
Key Considerations & Additional Support...........................................................................13
Glossary of Terms............................................................................................................... 14
References & Contacts....................................................................................................... 15
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Last Update 9/20/16
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Process Overview
The Monthly Reporting Process resides in the final phase within the Project Financial
Administration Process. The Process Model maintains key factors of Project and PSC monthly
reporting requirements. This Instructional Guide expands upon the Process Model
procedures and includes a more complete scope of monthly and forecast work number level
project financial reporting expectations for project leadership. These reports provide an
accurate view of the projects financial health and offer insight into the projects financials
and any red flags or headlights into future issues.
The monthly report process is completed after monthly project reconciliation and is due to
the project leadership by the 20th of each month. The standard monthly reports from IPPF
are:
Topsheet
Labor Report
Travel (Expense) Report
Change Log
Optional Reports (IPPF and non-IPPF)

o
Ledger Report
The financial forecast report process is completed after project leadership forecast updates
have been entered and require project leadership confirmation prior to completing IPPF
submission by the 7th work day of the month (7W). These reports and topsheet are also
required to satisfy SOX audit requirements.
Project Financial Administration Process

Claim &
Expense
Management
Monthly
Invoicing
Subcontractor
Invoice
Reconciliation
Monthly Project
Financial
Reconciliation
Monthly
Forecasting
Monthly
Reporting
Verify/approve correct
coding of labor in ICLA
Review TDBR & IOL

3x close/release fixed
billing
Collect CAR forms

for hours / expenses
Update & review

monthly actuals in
financial mgmt tool
Send current
forecast to PM for
review and approval
Send financial summary

to Project Team
Identify & manage

lagging costs/revenues
Forecast updated
and approved
Reconcile
costs/revenues to CGP
Forecast submitted
Investigate & resolve

unreconciled items
Forecast validated
Verify /
approve correct coding of
expenses in ICLA
Verify amounts remaining

in bill codes
Reswizzle Hours
Submit travel corrections,

unbilled, REA and Intl
resource travel, to NSSO
d-base
Prepare manual
invoices /
adjustments to invoice
by working with SIRT
team or AR
Review /
approve invoice
Invoice sent/delivered
to client
Work with PM to
resolve billing disputes
Approve hours
/expenses
Enter/Submit hours
and expenses
Last Update 9/20/16
Consolidate PSC reports
Resolve
discrepancies
Request PO updates
Work with PM/AR to
collect monies due and
cash application
Work with PSC resource

to resolve issues
Reconcile CAR forms

to IPVNs
Monitor/track supplier
POs
Prepare, analyze &

submit monthly
financial reports
Submit monthly financial

package to PSC Lead
Material changes
communicated to FA
Report to PSC Manager
Report to Senior
Leadership
Close/Cancel PO
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This chart provides background information in inputs, outputs, suppliers, recipients, and
activities for the Monthly Reporting process. The key policies and tools specific to this
process are also included.
Suppliers:
PSC Resource
Monthly Reporting
Sub-Process Activities:
Prepare and send

monthly financial
reporting
-
Submit monthly
work number reports
to project team
Recipients:
PM
Partner
Inputs:
IPPF
Outputs:
Monthly reporting
package to project
team
Monthly status report
to PSC Lead
Consolidated reports
Policies/ Business rules:

None
Tools:
IPPF
Last Update 9/20/16
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Process Overview & Map

To review the detailed process map and description, go to the Process Model section in the
NA PSC Wiki under Learning Resources > PSC Process Model > Project Financial Processing >
Attachments tab.
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Business Process Step-by-Step Procedures

Step A: Financial Information requested by Project Leadership.
When project leadership requires/requests information about a work numbers financial
status or forecast, refer them to utilize recommended IPPF views and reports.
Topsheet
Forecast Input
Reports
1. Topsheet shows financial performance against various plans

a. Click to display Topsheet (1)
b. Click gear to view settings (2)
c. Select Plan version (3):
i.
Original Plan (SOW)
ii.
Base Case (Approved Plan)
iii.
Target Plan (if different from Base Case)
d. View selected Plan version [note that Base Case Plan should match Discovery
Price Case, also known as Approved Plan] (4)
e. View Estimate-at-Completion (EaC) derived from Inception to Date (ItD) plus
most recently submitted future forecast (5)
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1. Forecast Input breaks down the Estimate at Completion (EaC = ItD + EtC)
a. Click to display Forecast Input (1)
b. View settings for Forecast Input view (2)
c. View Inception to Date (Itd) by category, sub-category (3)
d. View future forecast Estimate to Complete (EtC) by month, quarter, year (4)
Adjust settings for desired Forecast Input view
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Step B: Labor Report

There are several IPPF reports that may prove useful for analyzing labor
1. The Labor hours (BMSIW) Report shows monthly claim summaries that may be drilled
down to the weekly details
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2. The Labor Details (BMSIW) Report shows full claim details, including overtime
indicators and hours by day
Overtime indicators include:

o N
Normal Hours
o Y
Overtime hours (used for some subcontractors)
o Blank
Standard shift hours
o 1
Shift 1 hours
o 2
Shift 2 hours
o 3
Shift 3 hours
o S
Standby hours
3. Labor Reconciliation Report shows ledger cost and bill rates, and will enable
comparisons between forecasted, claimed and costed hours when a resource-based
labor forecast is loaded
NOTE: Performed hours are total hours claimed for every Friday week ending in the
calendar
Last
Updatemonth.
9/20/16Costed hours are total hours costed through single labor
Pageclaiming
10 of 16(SLC)
in the ledger month.
Step C: Travel Report

IPPF Travel Expenses Detail Report can be used to identify travel expenses that were
submitted as non-billable (in the even they can actually be billed)
Gross incurred
total amount including taxes incurred
Net incurred
total amount excluding taxes incurred
Gross reimbursed =
total amount including taxes reimbursed from IBM
Net reimbursed
total amount excluding taxes reimbursed from IBM
Non billable
submitted with billable indicator not selected
Step D: Ledger Summary Report

IPPF Ledger Summary Report breaks down the inception-to-date (ItD) ledger by year, quarter
or month.
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Step E: Change Log

The IPPF Change Log lists adjustments forecasted for current and future months to correct
wrong (or missing) transactions from past ledger months.
1. Click to open Change Log
2. Select Reconciliation tab
3. Look for current or future year months in comments
4. Read Event and Comment describing the expected correction (Event) and when it is
forecasted to be corrected (Comment)
Step F: Clarify Report Requests

When IPPF reports do not appear to satisfy financial management needs, meet with the
project team to clarify requirements.
Determine whether structured data exists that will satisfy requirements
Agree to supplement IPPF reports with available structured data from other report
tools
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Step G: Perform Quality Checks
Each month, perform Quality Checks on financial reports (IPPF and agreed-to non-IPPF) used
by project leadership.
Identify inconsistencies, gaps, and surprises that do not match expectations (PSC
Quality Checks process supports this analysis)
Email summary of significant findings with recommended actions to project
leadership by the 20th of the next month even when the finding is that the work
number is proceeding as forecasted
Post copy of monthly email with work numbers PSC Responsibility Checklist
Update Research & Action Log with PM approvals received for recommended
actions
Follow up on planned actions before end of month
Step H: Summary of Significant Findings

By the 20th of each month, PMA emails summary of significant findings with actions from
report reviews even when finding is that financials are on track with reminder to send
updates to future forecast by 1X.
Sample
For our planned review, I am sending my Research & Action Log showing open items that
Im working to close. In addition, I want to highlight my significant findings:
1. EAC GP% is down 1% from what we forecasted last month.
2. Reduced EAC GP% is mainly due to increase in forecasted subcontractor labor
cost.
Research & and Action Log
(attach to email and/or paste)
Please remember to send me any updates you have to the future forecast by
1X.
Last Update 9/20/16
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Key Considerations & Additional Support
Key Considerations
IPPF contains integrated financial reports that can answer many questions that used
to require reports run from FSP PM Reports or Discovery Dashboard
Integrated IPPF reports may be easily run and filtered within IPPF
Integrated IPPF reports present current data used by multiple roles: PM/Partner,
PMA/PMO, FA
When requests for financial information cannot be satisfied by IPPF reports, meet to
clarify needs and achievable solutions
Perform Quality Checks on financial reports used by project leadership
Call attention to unexpected report values; suggest actions; follow up to correct
Additional Support
First line support - Training & Communities

o
PM120G IPPF Basic Training
How to enter forecast in IPPF using resource method
How to reconcile actual to forecast in IPPF
Recorded PSC Brown Bag session
GBS US IPPF Community (Monitor the forum and FAQ)
WW Integrated Project Planning & Forecasting Community
Second line support Your peers

Learn together and help each other
Third line support Your PSC Manager, Lead or Program Manager

o
IPPF training:
Your PSC Manager, Lead or Program Manager will escalate as appropriate or

provide you with necessary instructions
If instructed, send an e-mail to the IPPF e-mail ID

o
IPPF Help/Costa Mesa/Contr/IBM
Include as much detail as possible
Screenshots
Examples
Actions taken
Anything else that would help the development team investigate the
issue
Last Update 9/20/16
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Glossary of Terms
For a complete listing, refer to the Glossary of Terms section in the NA PSC Wiki.
Last Update 9/20/16
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References & Contacts

A critical piece to successful project financial management understands which project team
member or IBM department to contact to resolve issues. Below is a listing of commonly
used role names and descriptions for the Monthly Reporting portion of the overall process,
and examples of what types of issues should be directed to those departments. These
examples are not all inclusive.
Role Name
PM
Role Description
Project Manager
Partner
Project Partner
PSC Program Manager / Lead
Project Services Center Program

Manager / Lead
Project Services Center
Manager
PSC Manager
Last Update 9/20/16
Contact for
All project related items
(primary)
Project related items
(secondary)
Monthly status reports &
issue reporting
Issue resolution &
escalation
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