"What is standard practice for Service industry - Definition of Booking?"
This question was asked at a recent webinar, now available on-demand:
"Why Companies Need a Bookings Policy, and How to Create One"
Please add your thoughts about it below. Thanks!
Not sure if there is a true “standard” but what i have done in practice is to manage a backlog metric in which bookings would additive to backlog and worked performed against the contract would reduce backlog. Given our services organization, we aimed to keep between 4 and 6 months of backlog on hand to ensure we had enough resources to complete the work.
