Glossary

A

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Allowances

Allowances are paid out to employees who need to have their expenses in connection with work related travel covered, e.g. room and board.

C

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Contribution Margin

The contribution margin- or the gross profit- is the value a company or a department contributes with to the company’s revenue.

Credit note

A credit note is a commercial document which counterbalances an invoice.

E

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External percentage of work

External% is the share of an employee’s registered work which is registered on external projects.

G

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Gantt chart

A Gantt chart is a graphic presentation of a project’s timeline showing the various tasks, what employees work on the project and how far the work is compared to the expected schedule.

H

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Hours spent

Work invoiced by time and material refers to projects that are settled using the number of registered work hours that the company has used on the project/task.

I

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Internal invoicing

In larger organisations internal invoicing is used as a management tool to manage cooperation across departments of business units.

Internal percentage of work

Internal% is the share of an employee’s registered work tracked on internal projects.

Invoice

An invoice is a commercial documentation of an amount due to a debtor. An invoice typically includes a list of items or services rendered, and states their price/quantity.

Invoicing%

The invoicing% is the percentage of am employees normal work time that is invoiced.

K

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Key Performance Index

The Key Performance Index (KPI) is used to show key figures for the employees and company alike. The KPI report clearly illustrates the results with graphs.

M

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Mileage Allowance

Companies can choose to compensate employees’ use of their private car by adhering to the state’s charges.

Mileage rates

Look under Mileage Allowance

Mileposts

See Milestone

Milestone

Milestones are project management tools that can be used for various purposed depending on the industry.

N

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Normal working time

An employee’s normal working time is the contractually agreed upon work time. In Denmark the normal working time is 37 hours/week.

P

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Pivot table

A pivot table is an analysis function in Microsoft Excel and other spread sheet applications. Pivot tables are used to summarise, sort and compare data. The name Pivot refers to the fact that the user can “pivot” the data as desired.

Portfolio Management

Portfolio management gives an overview of the company’s collective project activity. Portfolio management is a strategic tool enabling the company to prioritize and assess the collective project activity risk.

T

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Tax free travel compensation

See Allowances

Time off in lieu

Time off in lieu is overtime which can be offset during work hours, thereby allowing an employee to take time off at another time.

Tracking time on projects

Time tracking is the tracked time the employees track on certain tasks on a project.

Turnover

Employee turnover is a measure of how good a company is at retaining its employees. A high turnover reflects the fact that a large part of the company's employees leave the workplace.

U

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Utilisation

See External % (work)

W

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Write up/appreciation

Written up value /appreciation is an accounting term which indicates that an asset’s value has increased. Write-down/off is the opposite- this means that an asset’s value has depreciated.

Write-down/-off

Write-down/-off is an accounting term which indicates that an asset’s value is reduced, thus written down/off. Write up is the opposite- here an asset’s value is increased.