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Developing a payment schedule for procurement

Developing a payment schedule for procurement

Developing a payment schedule for procurement

I am on a very large scale project.  I would like to know if anyone has ever developed a payment schedule using MS Project.  For example, over the next 7 years, there will be approx. 10,000 items procured through approx. 6000 vendors (all contracts with various types of payment terms and conditions).  Also there will be about 300 contractors with different progress payment terms and conditions (i.e. lump sum payment, ultimate completion, % of payment based on % of work completed, 10% July 08, 20% July 09 etc.

I am wondering if anyone can offer suggestions on the setup of this type of schedule.

More specifically,

Procured item #1:  10% on receiving of Purchase order date,
                               15% on proof of delivered to project site
                               75% on receiving of Materials

Contract #1:  Payment upon ultimate completion of scope of work

Contract #1:  % of total contract payments based on
                     Completion of milestone

The payment schedules are unlimited to a certain extent.  Any help / suggestions on this would be greatly appreciated.


RE: Developing a payment schedule for procurement

I've tried this a couple of times and have found MS project to be   intensely frustrating on this task.  It was easier to export to excel and develop the cash flow table based on %'s and dates.

RE: Developing a payment schedule for procurement

Would you export the dates / data from your Procurement Schedule into excel and add additional columns etc;  OR  would you just create a sheet in excel?

Any suggestions on how I should setup the format of the sheet?


RE: Developing a payment schedule for procurement

I just did a cut and past into excel and then did columns with the months across the top.  I estimated when we had to commit to certain purchases and then guess-timated when vendors would require a series of milestone payments.  Then I did a cross check for 100% and then added up each month to come up with a cash flow projection.  To be honest, I was never happy with the result, but the answers proved to be adequate.  I wish there was a better way to do it within project.

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