# Engineering Adventure Notes

# Shawns Financial World Framing

Shawn is going to walk us through what financials looks like

_caveat, you can do this in many ways_

## Business Process

How to manage financials on the Job, 4 general buckets

### Planning
Your plan is a combination of your original plan and the combinations of that plan, original spend and changes.

This is generally comprised of a few things:
- "Contracts", which their are a varitey of
- SOV, how much you are gonna pay, how much you getting paid
- Cost Estimates, generally the budget
- how many hours or people you have
- Production Estimates
- Sqft of concret you are gonna pour

And that is all kind of wrapped up. As the project kicks off, you start to get into Change Management. This begins a series of modiciations to your Contracts, Cost Estimats and Production estimates.

This begins the "Spider web" of change events and becomes the change to the original plan and becomes the revised plan.

### Spend and Production
Every project has a rate at which things are done, how much has been done and how much is left to do. This concept is actual spend/production and forcasted spend/production

#### Actuals capture
The amount / quantity that you have spent or produced
- $ spent
- quantity spent

#### Forecasting
Remainging spend and production
- *new*
- as work is happening, you start to get a sense of _actuals_ vs _predictions_
- $ (actual)
- spend qty -> how much labor / equipment am i using
- production units -> output
- production - how much am i going to do between now and the end of the day

### Reporting
Finally, this brings us to reporting, which has the job of giving insight into how the project is going, at the current moment.

This can be done in a varitety of ways, via the
- JCR (Job Cost Report)
- Point in time
- custom reporting