This is really about process discipline in Parallax so your reporting actually tells the truth. Below is a recommended, opinionated sequence that works well for both delivery teams and leadership reporting, with callouts for why each step matters and where Fixed Fee (Bid/Retainer) vs T&M diverge.
Recommended Order for Setting Up a Deal in Parallax (for Best Insights)
1. Create the Deal (Pipeline)in CRM
What to do
Create the deal with following information:
Client
Estimated Target start in CRM.
Add in PX anticipated End date based on plans(even if rough)
Deal type (Fixed Fee or T&M)
Assign Service Offering
Why this matters
This establishes the time frame Parallax uses for forecasting, utilization, and margin modeling.
If a plan is not shaped out in Parallax, it is not reflected in Insight Reporting
Even rough dates allow early capacity visibility without committing resources yet this gives you visibility into forecasting and planning not only resources but revenue.
2. Shape the Deal (Structure the Work Before Staffing)
When
As soon as scope is understood enough to describe roles and phases of the project work, even if people aren’t named.
What to do
Define:
Phases - Service Offerings
Roles (e.g., PM, Designer, Engineer)
Expected duration per role (when does their work start, how many hours per day/week/month)
Why this matters
Shaping defines what work exists, independent of who does it.
This is what allows Parallax to:
Compare planned vs actuals later
Show role-based margin and burn
Skipping shaping leads to “flat” reporting where everything collapses into generic hours
3. Set Financial Settings Early (Before Allocation)
This is critical and often done too late. This should be done before project goes to Closed/Won if possible. It can always be updated if the deal specifics change while in Deal stage.
For Fixed Fee Projects
Verify Total Target Budget
Revenue recognition method (usually time-based) Add Service Revenue to Cost/Revenue section of project
Target Service Budget - should match or closely match Target Budget based on plans
Sold Hours by Role should be entered vs leaving at 0
Select Rate Card or enter in Rates to be used
Set Target Margin if not default margin
Set Billing Model
Why
Fixed fee margin reporting depends on planned cost vs fixed revenue
If revenue isn’t set early, utilization looks artificially bad and looks like higher burn or overage
For T&M Projects
Set before moving forward
Billable rate per role (or blended rate)
Cost rates (if not inherited)
Verify Target Budget
Verify Service Revenue matches or closely matches Target Budget based on plans
Set Target Margin if different than default margin
Apply Rate Card
Set Sold Hours by Role
Why Important
Revenue projections come directly from planned billable hours
Late rate setup = inaccurate revenue forecasts and misleading margin trends
4. Create Resource Plans (Role-Based First)
When
After setting financial settings
Before or during assigning named people to roles
What to do
Create role-based resource plans for:
Each role
Full expected duration of that role’s involvement
If Role is not needed, remove
Use realistic allocation percentages / hours
Why this matters
Resource plans are the backbone of:
Capacity forecasting
Cost projections
Margin forecasting
Role-based plans keep forecasting stable even if people change later.
5. Allocate Named Resources to the Plans
When
Once staffing is reasonably confident
If possible assign people before moving to In Progress when possible
What to do
Allocate people to the existing role plans
Adjust start/end dates if needed, but keep coverage continuous through the duration of the project. Avoid only planning 2-3 weeks at a time.
Why this matters
Allocation connects:
Cost rates
Actual availability
Utilization tracking
This is where forecasts become real, not theoretical.
6. Ensure Full-Time Coverage Across the Project (Best Practice)
Before moving to In Progress, aim for:
All known roles planned from start to finish
No large gaps unless they are intentional and noted
No “we’ll fill this in later” on core roles for the work. Roles should be fully allocated first before moving to In Progress.
WHY this matters:
Parallax assumes missing plans = no cost
If roles aren’t planned for the full duration:
Margin will look artificially high early
Forecasts will swing wildly later
Full coverage ensures:
Stable margin trends
Accurate remaining effort calculations
Meaningful “at risk” signals
In short: you can’t manage what isn’t planned — and Parallax won’t warn you about risk it can’t see. Your teams and leadership will underestimate availability and revenue when data gaps like plans are missing.
7. Final Check → Move Deal to In Progress
Before changing status
All phases/service offerings are fully shaped
Financials set
Cost/Revenue is applied for Fixed Fee projects
Resource plans created for each role
Sold Details on Financial Settings is completed
Core roles allocated (or at least planned) for full duration of the project.
Avoid setting a temporary or placeholder time like 1 hour to each role because this gives an inaccurate picture of what was sold and affects utilization and financial reporting
Why this matters
“In Progress” signals to Parallax that:
Forecasts should be trusted
Utilization and margin trends are now operational metrics
Moving too early locks in bad assumptions and pollutes reporting.
Fixed Fee vs T&M: Key Differences to Remember
Fixed Fee
Revenue is fixed → planning accuracy = margin accuracy
Missing resource plans = fake margin
Full-duration planning is non-negotiable
T&M
Revenue flexes with hours → planning drives revenue visibility
Missing plans = underreported future revenue
Rates must be correct early for meaningful forecasts