Rules of Credit Overview

Rules of credit can be used when tracking progress on scope assignments. A rule is defined by its milestones and their percentage complete. These rules are used when contracts require certain conditions to be met before a payment is made. The rules are also used when it is necessary to track progress of an assignment at a more detailed level or when there are specific steps that need to be completed to satisfy the scope assignment.

The rules are configurable to meet the needs of the contract or general project statusing requirements. In some cases, it is necessary to track the percentage complete for each milestone. In other cases, it is only important to track whether the milestone is complete.

A rule of credit is set at the scope assignment level when the work package is set to measure progress by Milestone Percent Complete. The milestones defined for the rule of credit are used to show progress.

Rules of credit are typically defined by project managers and cost controls engineers.