The plan is set, now the doing counts. teamspace carries the project from accepting the order through work packages, hours and milestones to billable work, all in one place, with a margin that stays current to the day. Part of project management in teamspace.
What it is about
The start
Execution does not begin with an empty project, but with the accepted order. A single click turns it into the project: the order items become sub-projects and work packages, with budget and owners set from the outset.
So the link between order and work stands from the very first hour. Every entry that follows knows which item it belongs to.
The principle
Rather than being passed from tool to tool by hand, the project runs as a single pass from accepting the order to billable work. Plan and actual sit side by side the whole way.
Plan
240 h
Actual
188 h
Margin
21 %
Status
green
From order to sign-off, one run: the margin runs along the whole way.
Margin
The key difference between steering and chasing is the moment the figures arrive. teamspace calculates the contribution margin continuously, from the internal hourly rates, the logged hours and the costs incurred. The result sits in the Analysis tab, not in a table someone fills in at quarter-end.
The view can be switched, depending on the question:
What holds it together
Execution only runs smoothly when status, data and billing hang on the same structure. That is what decides whether a project stays steerable.
15 minutes
In 15 to 30 minutes we walk through your flow from order to sign-off, and you see where teamspace holds it together in one place. You get clear first feedback on whether that fits your setup.
Traceability
While a project runs, status and dates change. teamspace records these changes automatically in the project log, without anyone keeping a logbook. Whoever needs the history sees when which status was set and which milestone moved.
That keeps the project lead ready to speak to the client at any time: the current status and the path to it are on record, not reconstructed from memory.
Documentation
Sign-off records, concepts and images belong where the work happens. In teamspace the file storage sits on the project structure, so a document hangs on the right work package. Instead of asking a colleague, the people involved reach for it directly.
Office files can be edited online, and the versions stay traceable. So the project documentation builds up along the way, rather than as a double duty at the project's end.
“I save a lot of time writing invoices.”
The close
At the end of a run stands the invoice, and it too does not start with an email to accounts. Through billing rules the items are tied to the project status: as soon as a sub-project reaches the agreed status, the related items appear in the order as billable.
From the approved hours, flat rates and costs, the invoice is created in the stored layout, with the contact details from the client record. Fixed price, time and materials sit side by side in the same order.
More from project management
Project execution shares its data with these areas, without anyone keeping anything twice.
Main project, sub-project and work package: the structure the execution runs on.
Learn moreLog time on a phase or task, the source for status, margin and invoice.
Learn morePlan, actual and forecast current to the day, with alert levels on budget and margin.
Learn moreApproved hours become the invoice, fixed price and time and materials side by side.
Learn moreFiles, activities and a log that records the course on its own.
Learn moreWho is scheduled, who is free: utilisation per person and week.
Learn more
Part of project management
Order, work packages, hours and billing are not a separate tool, but the delivery view of the projects you run in teamspace anyway. From the work breakdown structure through controlling to billing, in one overview.
See project managementExecution day to day
Project execution covers carrying out all project-related tasks from the start to the close of a project. The planning is taken as given; execution is about getting the work packages done and the administrative and steering tasks that keep a project on plan. Three of them decide its success: the project documentation, which evidences the status, the project controlling, which shows deviations early, and the project billing, which turns the work delivered into invoices.
teamspace brings these three together on one data basis. Because status, margin and billing all come from the same logged hours, every figure is traceable down to the single entry. Whoever wants to steer does not have to gather data, they see it. Where capacity planning is needed, the scheduling assistant in the enterprise edition takes account of holiday, sickness and contracted working time and reports conflicts to the planner.
We have been developing teamspace in Darmstadt since 1999. It runs in an ISO 27001 certified data centre in Frankfurt am Main, with data processing exclusively within the EU. The contracting party is 5 POINT AG, a German public limited company under German law.
Related modules
Execution lives on the data of the hour, the invoice and the order. Here are the shortest routes to them.
Hours land on the work package and are the basis for status, margin and billing.
The finished project work becomes the invoice, with hourly rates, flat rates and billing rules.
The accepted quote becomes the project. Order and client record stay connected to it.
First call
From the accepted order to billable work. In a short call you see how teamspace holds the run in one place, instead of passing it across several tools.
