Project Operations
Mastering Project Operations
Test your knowledge on Dynamics 365 Project Operations with our comprehensive quiz! This quiz covers key concepts, terminologies, and fun
- 29 questions to challenge your understanding
- Multiple choice and checkbox formats
- Learn while you play!
You can invoice fixed-price project using different times known as milestones. For each milestone, you can define a specific date, sales currency, sales price, and activity.
By using this project type, the customer is billed for all costs that are incurred on a project based on unit pricing or markup on cost. These include costs for hours, expenses, items, and fees.
These are projects that do not produce immediate earnings, typically used for long-term internal projects in which the costs must be capitalized. Only costs for items, hours, and expenses are considered.
These projects are typically used to track internal projects. The transactions are posted only to profit and loss accounts.
These projects are used to track time that is associated with non-chargeable and non-productive activities, such as a project to track sick time for workers. Transactions are not posted to the ledger. Instead, they are included in worker utilization reports.
In this phase of a project, a project quotation lets you provide a customer with a non-binding offer. A quotation can include elements such as the items and services that are quoted, basic contact information, special trade agreements and discounts, and possible taxes and surcharges.
In this phase of a project you can use a project quotation to communicate the estimated labor, expenses, and materials to the customer. You can record the billing terms, limits, and agreements in a project contract. You can use a work breakdown structure (WBS) to plan and estimate the work. You can set up forecasts and budgets to guide the project execution.
In this phase of a project team members or managers record work and the expenses by using timesheets, expense reports, monitor the consumption of budgeted amount Can also order, pick, or procure materials for projects by using purchase orders and other business documents. Invoices are prepared and approved, so that customers can be billed for ongoing work. Finally, revenue is recognized during this process to affect the organization's financials
In this phase of a project you can evaluate not only the transactions that occurred during the project, but also the accuracy of your estimates and forecasts, the utilization rates of the project team members, and the overall success of the project