--- title: The Value of Putting Lump Sum Projects in Track description: Read about the value of putting your lump sum projects in Track. image: https://blog.managementcontrols.com/hubfs/Lump%20Sum-1.jpg --- [Skip to content](https://blog.managementcontrols.com/the-value-of-putting-lump-sum-projects-in-track#main-content) Search - There are no suggestions because the search field is empty. [Log into myTrack](https://mytracksoftware.com/#/auth)   [sales@mccorp.com   ](mailto:sales@mccorp.com) 1-855-89-TRACK (87225) [![Management Controls Inc Logo](https://blog.managementcontrols.com/hubfs/Home%202024%20Assets/Management-Controls-Logo.svg "Management Controls Inc Logo")](https://www.managementcontrols.com) - [myTrack Platform](https://managementcontrols.com/mytrack-platform/overview) Show submenu for myTrack Platform - [What We Offer](https://blog.managementcontrols.com/the-value-of-putting-lump-sum-projects-in-track#) Show submenu for What We Offer - [Services](https://blog.managementcontrols.com/the-value-of-putting-lump-sum-projects-in-track#) Show submenu for Services - [Resources](https://blog.managementcontrols.com/the-value-of-putting-lump-sum-projects-in-track#) Show submenu for Resources - [Resource Hub](https://resources.managementcontrols.com) - [Blog](https://resources.managementcontrols.com/blog) - [Client Testimonials](https://managementcontrols.com/mytrack-platform/client-testimonials) - [Case Studies](https://resources.managementcontrols.com/case-studies) - [White Papers](https://resources.managementcontrols.com/white-papers) - [News Releases & Mentions](https://resources.managementcontrols.com/news-releases-mentions) - [Track University](https://managementcontrols.docebosaas.com/learn/signin) - [Company](https://blog.managementcontrols.com/the-value-of-putting-lump-sum-projects-in-track#) Show submenu for Company - [About MCi](https://managementcontrols.com/company/about-mci) - [Meet Our Team](https://managementcontrols.com/company/meet-our-team) - [Upcoming Events](https://managementcontrols.com/events) - [Our Customers](https://managementcontrols.com/company/our-customers) - [Careers](https://managementcontrols.com/company/mci-careers) - [Contact Us](https://managementcontrols.com/company/contact-us) [Request a Demo](https://info.managementcontrols.com/request-a-demo) ** ** ** - [myTrack Platform](https://managementcontrols.com/mytrack-platform/overview) Show submenu for myTrack Platform - [What We Offer](https://blog.managementcontrols.com/the-value-of-putting-lump-sum-projects-in-track#) Show submenu for What We Offer - [Services](https://blog.managementcontrols.com/the-value-of-putting-lump-sum-projects-in-track#) Show submenu for Services - [Resources](https://blog.managementcontrols.com/the-value-of-putting-lump-sum-projects-in-track#) Show submenu for Resources - [Resource Hub](https://resources.managementcontrols.com) - [Blog](https://resources.managementcontrols.com/blog) - [Client Testimonials](https://managementcontrols.com/mytrack-platform/client-testimonials) - [Case Studies](https://resources.managementcontrols.com/case-studies) - [White Papers](https://resources.managementcontrols.com/white-papers) - [News Releases & Mentions](https://resources.managementcontrols.com/news-releases-mentions) - [Track University](https://managementcontrols.docebosaas.com/learn/signin) - [Company](https://blog.managementcontrols.com/the-value-of-putting-lump-sum-projects-in-track#) Show submenu for Company - [About MCi](https://managementcontrols.com/company/about-mci) - [Meet Our Team](https://managementcontrols.com/company/meet-our-team) - [Upcoming Events](https://managementcontrols.com/events) - [Our Customers](https://managementcontrols.com/company/our-customers) - [Careers](https://managementcontrols.com/company/mci-careers) - [Contact Us](https://managementcontrols.com/company/contact-us) MANAGEMENT CONTROLS BLOG # The Value of Putting Lump Sum Projects in Track Posted by  [ Management Controls, Inc ](https://blog.managementcontrols.com/author/management-controls-inc)  on  Thu, 02 Feb 2023 11:29:23 -06:00 ![](https://blog.managementcontrols.com/hs-fs/hubfs/Logos/MCi%20Logo%20Head-01.png?width=50&name=MCi%20Logo%20Head-01.png) Find me on: [**](https://www.linkedin.com/company/management-controls-inc) [![](https://blog.managementcontrols.com/hubfs/2024%20Website%20Dev%20Assets/linkedinshare.png)](https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fblog.managementcontrols.com%2Fthe-value-of-putting-lump-sum-projects-in-track&title=%3Cspan+id%3D%22hs_cos_wrapper_name%22+class%3D%22hs_cos_wrapper+hs_cos_wrapper_meta_field+hs_cos_wrapper_type_text%22+style%3D%22%22+data-hs-cos-general-type%3D%22meta_field%22+data-hs-cos-type%3D%22text%22+%3EThe+Value+of+Putting+Lump+Sum+Projects+in+Track%3C%2Fspan%3E) *![Lump Sum-1](https://blog.managementcontrols.com/hs-fs/hubfs/Lump%20Sum-1.jpg?width=672&height=352&name=Lump%20Sum-1.jpg)* Are you only running your time and materials contracts through Track? Many customers think Track is limited to jobs billing time and materials. However, due to the accuracy and visibility of Track, it is beneficial to have lump sum projects as well. By managing all projects within Track, no matter what billing strategy is being used, you can have timely and accurate visibility into your entire contractor workforce in one place. This allows you to compare lump sum versus time and materials for future work, incorporate costs into Insights reporting, and have one place for Authorizers to approve all costs.     To set up a lump sum agreement in the TRACK application:  - Create a lump sum agreement   - Add the applicable skills to the lump sum agreement  - Add a lump sum material group and item to the agreement  - If the vendor only performs lump sum work, determine the agreement skills by discussing them with the client  - Set up all labor rates on the lump sum agreement as $0 - Submit lump sum invoices through the material module - Ensure that vendors allocate the lump sum resource hours to the appropriate cost objects   Contact us for more information on how to utilize the Track application for lump sum agreements.   [![Contact Us](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/6486746/088626e2-7f05-47d0-b923-785c084e7b6d.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/6486746/088626e2-7f05-47d0-b923-785c084e7b6d)             ### **Leave a Comment Below:** Tags: [Contractor Spend Management](https://blog.managementcontrols.com/tag/contractor-spend-management) [![New call-to-action](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/6486746/388ecaf2-efce-419e-8aa2-25222551b38b.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/6486746/388ecaf2-efce-419e-8aa2-25222551b38b) ### Subscribe to our blog: ### Recent Posts - Management Controls, Inc. Wins Prestigious 2025 CIO 100 Award for AI Innovation in Contractor Data Management - Management Controls Inc. Announces myAssistant AI Copilot for myTrack, Powered by Microsoft Azure - Navigating IRA and CHIPS Act Uncertainty with myTrack - 3 Key Reasons to Buy vs. Build Shutdown, Turnaround, and Outage (STO) Software - Explore Express Central ### Posts by Tag - [Contractor Spend Management](https://blog.managementcontrols.com/tag/contractor-spend-management) - [Insights & Analytics](https://blog.managementcontrols.com/tag/insights-analytics) - [TRACK University](https://blog.managementcontrols.com/tag/track-university) - [Routine Maintenance](https://blog.managementcontrols.com/tag/routine-maintenance) - [Procurement](https://blog.managementcontrols.com/tag/procurement) - [Project Controls](https://blog.managementcontrols.com/tag/project-controls) - [Software Releases](https://blog.managementcontrols.com/tag/software-releases) - [CapEx](https://blog.managementcontrols.com/tag/capex) - [Company News](https://blog.managementcontrols.com/tag/company-news) - [Mining](https://blog.managementcontrols.com/tag/mining) - [Mobile Solution](https://blog.managementcontrols.com/tag/mobile-solution) - [Risk Management](https://blog.managementcontrols.com/tag/risk-management) - [myTrack](https://blog.managementcontrols.com/tag/mytrack) - [Case Study](https://blog.managementcontrols.com/tag/case-study) - [safety](https://blog.managementcontrols.com/tag/safety) ### Schedule a Time to Connect with Us Get in touch with our experts to see if myTrack is a fit for your business! [Schedule Meeting](https://managementcontrols.com/schedule-a-meeting) ![](https://blog.managementcontrols.com/hubfs/Home%202024%20Assets/MCi+Logo.svg) 15600 John F Kennedy Blvd Suite 850, Houston, TX, 77032, United States [1-855-89-TRACK](tel:+18558987225) [sales@mccorp.com](mailto:sales@mccorp.com) [Follow us on Facebook ](https://www.facebook.com/ManagementControlsInc/) [Follow us on LinkedIn ](https://www.linkedin.com/company/management-controls-inc/) [Follow us on Twitter ](https://twitter.com/MgmtControlsInc?lang=en) ##### Explore - [Home](https://managementcontrols.com) - [myTrack Overview](https://managementcontrols.com/mytrack-platform/overview) - [MServ Managed Service](https://managementcontrols.com/services/managed-services/mserv) - [Integrations](https://managementcontrols.com/mytrack-platform/integrations-and-security) ##### Learn - [Track University](https://managementcontrols.docebosaas.com/learn/signin) - [News & Mentions](https://resources.managementcontrols.com/news-releases-mentions) - Schedule a Meeting ##### About - [About MCi](https://managementcontrols.com/company/about-mci) - [Meet Our Leadership Team](https://managementcontrols.com/company/meet-our-team) - [Our Customers](https://managementcontrols.com/company/our-customers) - [Careers](https://managementcontrols.com/company/mci-careers) - [Contact Us](https://managementcontrols.com/company/contact-us) © 2026 Management Controls. All Rights Reserved. [Privacy Policy](https://managementcontrols.com/privacy-policy) | [Cookie Policy](https://managementcontrols.com/cookie-policy) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Management Controls, Inc", "url" : "https://blog.managementcontrols.com/author/management-controls-inc" }, "dateModified" : "2023-02-02T17:29:23.294Z", "datePublished" : "2023-02-02T17:29:23.000Z", "headline" : "The Value of Putting Lump Sum Projects in Track", "image" : [ "https://blog.managementcontrols.com/hubfs/Lump%20Sum-1.jpg" ], "mainEntityOfPage" : { "@id" : "https://blog.managementcontrols.com/the-value-of-putting-lump-sum-projects-in-track", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://blog.managementcontrols.com/hubfs/MicrosoftTeams-image-3.png" }, "name" : "Management Controls" } } ```