1. Adjust At Risk Amount on Commitment
Upon award and execution of a contract, RedTeam Flex assumes all items comprising your Estimate and Budget must be purchased and/or performed in order to fulfill the prime contract requirements. To facilitate the Buyout process, RedTeam Flex tracks all of the budgeted costs as "At Risk," which indicates money that is expected to be spent but has not yet been allocated to a Buyout Commitment or standalone invoice.
In RedTeam Flex, an amount remains "At Risk" until the burden of that risk is passed along via a Subcontract, Purchase Order, Employee Commitment, or vendor invoice. As Purchase Orders and Subcontracts are created and committed, those dollars now contracted are no longer considered to be At Risk, so RedTeam Flex will automatically prompt you to reduce or remove the amount "At Risk" upon COMMITTING a Buyout Commitment (PO, Subcontract, or Employee Commitment)
Committing a Buyout Commitment (from the tools icon OR the Collaboration Console View) will open a command window where you may select from the following options:
Delete the "At Risk" Item entirely: I no longer have to buy out anything for this cost code, there is no money At Risk and the difference between my Budget and my Open Commitment is loss or profit.
Adjust the "At Risk" amounts: I want to reduce or increase the amount that is At Risk, there is still more to buy for this cost code and I want to project the final cost at complete for this Budget cost code.
Leave the "At Risk" Item unchanged: Don't change anything, I want to leave the At Risk amount as it is.
Foot To Budget: Click Foot To Budget at the top. This will automatically adjust the At Risk to an amount that will add with Open and Actuals to make the Complete column equal the Budget column. Use this function with caution; If the line is already over budget, the At Risk will then become a negative amount.
If you do not Adjust the At Risk from the automatic prompt you can manually adjust it later from the Budget tab.
2. I can't Commit my Buyout Commitment (PO, Subcontract, Task Order, etc.). Why?
You have created a Buyout Commitment on your Project, reviewed it, and want to get rid of the DRAFT watermark to send out the Commitment to your Vendor, but the Commit button is grayed out in the tool and not available on the View screen.
First, click the tool icon and select edit. From there, Commitment and go to Step 4. Verify Credentials. Check to see if you have the required Credentials listed here. If you do, check to see their status. If any of the Credentials are missing ("none") or expired, you will not be allowed to Commit the Buyout Commitment.
In this case, you have two options:
Option 1: Contact your System Administrator and ask them to Waive the Credentials in Step 4. NOTE: Only do this if you do NOT require those Credentials for this Buyout Commitment. If you DO require those Credentials, consider Options 2 or 3.
Option 2: Aquire the Credentials from the Vendor and upload them to RedTeam. If the Credentials (ex. General Liability insurance, W-9, Workers' Compensation) are missing or expired, contact the Vendor, get a copy of their Credentials, then upload them to the Vendor's profile in the Vendors menu.
Option 3: Contact your System Administrator to change the settings for the Commitment. From the Configuration menu (Commitment Forms), a System Administrator can Edit the Commitment Form and, at the bottom of the settings list, can change the setting: The following Credentials will be required to Execute this Commitment Form. This will allow Commitments to be Committed without the required Credentials, but cannot be marked Executed until all required Credentials have been received and uploaded to the Vendor's profile.
3. Entering More Than One Cost Code on a Commitment
By default, only one cost code is able to be used on new commitments. A setting in the configuration menu must be enabled in order to allow mutliple cost codes to be used. You can enable multiple cost codes by accessing the "commitment forms" page within the configuration menu.
Only an administrator with the appropriate permissions will be able to follow the steps below.
Steps:
Navigate to the "commitment forms" page within the configuration menu.
Click the tools icon for the form you would like to adjust and select "edit".
Scroll down to "Workflow Options" and select the checkbox next to "Allocate Commitment Value to multiple Cost Codes"
