Measure Staff Performance: Realization
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Realization is when you compare the number of hours logged to BigTime with the amount that’s invoiced. For example, if Fred logged $1,000 worth of hours and invoiced $1,000, then his realization is 100%. However, if Fred logged $1,000 worth of hours and only invoiced $500, his realization is 50%. The higher the realization rate, the better.
Note: Your firm must be invoicing out of BigTime in order to measure realization.
Measure staff realization in BigTime by creating a custom report. Click here if you’re new to custom reports. If you’re familiar with them, read on to get tips on creating a report to measure realization.
- Select Time+Expense Summary under the report type.
- Check Realization (%), located under "WIP Status," when choosing columns to add in your report. Other fields worth adding include Quantity, Input $, WIP (billed), and Invoiced.
- After you create your report, you’ll see the realization for your employees. Notice in the example below that Jacob’s realization is low: 0.13. His input was over $11,000 and only invoiced $1,275. Given his low realization rate, you may allocate future tasks to someone who's got a higher realization rate.
Where to go from here: