Mastt Glossary
Definitions of the key terms used throughout Mastt, from account setup, costs and payments to dashboards, risks, schedules and construction industry terms.
This comprehensive glossary defines key terms used throughout Mastt, helping construction project managers understand platform features and industry terminology.
Account & Setup
Workspace (Organization): Your company's Mastt subscription. All projects, programs and users are linked to a workspace, which is sometimes called an organization.
Position: The permissions assigned to individual users. This determines what they can do within their Mastt organization.
Auth Provider: How a user logs in to Mastt. They can either log in with an Email Address and Password, or can use Microsoft Login.
Default Photo: The image that appears on the My Projects/Programs page to help identify the Project/Program.
Project/Program Admin: A user who has admin permissions for a Project or Program but not for the Organization. These users can re-open Cash Flow months and delete payments in closed Cash Flow months, but cannot create new users or change user access rights.
Permission Levels: Different access rights assigned to users, determining what functions and data they can access within projects and programs.
Admin Page: Where workspace administrators manage the whole workspace. Click your name in the top right corner and select Admin. It includes Workspace Details, Projects, Programs, User Management, API Keys, Plan & Billing and Dashboard Templates.
Multi-Factor Authentication (MFA): An extra step when signing in. Workspace administrators can require MFA immediately or from a set date, and choose how often it's required again, up to every sign-in.
Archived Project: A project that has been archived from the admin page. It's hidden from Home, the Projects page and the projects dropdown, but it still appears in its program. Workspace administrators can enable it again.
Duplicate Project: Copies an existing project's structure, settings and configuration into a new project. Workspace administrators do this from the admin page.
Interface & Navigation
Action Button: Horizontal or Vertical Three Dots button located adjacent to anything you have created in Mastt. After clicking the Three Dots Button, it will reveal multiple settings and functions for that item, such as 'Edit Description' or 'Add Change Order'.
Columns / Adjust Columns: Option to choose which columns are visible on the selected page or tile. On the Overall page, it's also where you add optional columns such as the Uncommitted and Adjustments breakdowns.
Filters: Option to change what is shown in the selected tile or page.
Export All Data: Export all items on the current page to a .CSV file.
Export Current View: Export only the filtered items on the current page to a .CSV file.
Details: Provides detailed item-specific information, like Comments, Attachments, and Audit History.
Audit Log: Shows all changes across the Project, including which user made the changes and the previous values. You can also open the audit log for individual records, such as budgets, change orders, forecasts, contracts and risks.
Bulk Upload: Feature that lets you add multiple records at once, such as risks. Budgets can be pasted from Excel, and schedules imported from Microsoft Project or Primavera P6 files.
Paste from Excel: Option that lets you paste rows copied from Excel, for example into budgets, contract line items and cash flow.
AI Features
AI Pre-fill (Fill details with AI): Upload a document and Mastt AI fills in the form for you. It's available for contracts, payments and change orders.
AI Compliance (Beta): On a contract, Mastt AI reads your contract PDF and builds a checklist of payment compliance requirements, such as insurances, retentions and timing.
AI Review (Beta): On a payment, Mastt AI checks the payment PDF against your contract's compliance checklist.
AI Dashboard Creator: Helps you build and configure a dashboard with AI.
Projects & Programs
Project: The home for your management and administration of contracts for your real-world planning, design, or construction project. Projects in Mastt are where all data is entered.
Program: A roll-up or collection of projects. Projects in Mastt are aggregated into one view to give organizations, PMOs, and program managers ultimate visibility into the projects they are responsible for.
Program Settings: The settings for a program. Open them from a program card or a program page, the same way you open Project Settings.
Cost Module
The Cost Module is where all Project Financial Data is added.
Overall: Shows all information about the project or program's finances on a single page. You can add optional breakdown columns: Pending Contracts, Unapproved Change Orders, Forecasts and Risks break down the Uncommitted column, and Adjustments In and Adjustments Out break down the Adjustments column.
Uncommitted: Costs that aren't yet committed to a contract: pending contracts, unapproved change orders (Forecast and Pending), forecasts and risks. Optional breakdown columns on the Overall page show each part.
Estimate at Completion (EAC): The forecast total cost of the project at completion. It's also known as Forecast Final Cost (FFC).
FTC/ETC (Estimate to Complete): The remaining forecast cost, calculated as Final Forecast Cost minus paid payments plus paid retainage.
Budget Tag: A unique identifier to simplify filtering of dashboards. Tiles (like the KPI tiles) can be filtered to only show specific budget tags at the Project and Program level.
Sub-Budgets: Further breakdowns of budgets or sub-budgets to simplify financial management for your Projects and Programs.
Transfer Funds: Moving funds between your Budgets and Sub-Budgets without changing the Original Budget amount.
Add/Remove Funds: Adding additional funds or removing existing funds from a Budget or Sub-Budget without changing the Original Budget amount.
Budget Notes: Notes you add against a budget, to record context and decisions alongside your cost data.
Adjustments In / Adjustments Out: Optional columns on the Overall page that break the net Adjustments column into money added to a budget and money taken out.
Cost Category: Classification system for organizing and tracking different types of project costs.
Cost Object: Specific items or activities to which costs are assigned for tracking and reporting purposes.
Contracts
Contract Standards: The specific Contract Standard for that specific Contract. This will prefill the correct Payment Clause on the Payment Certificates and Schedules and allow you to define the Contract Roles applicable under the standard.
Contract Roles: Roles that have been defined under the chosen Contract Standard: Principal, Contractor and Project Manager. A Superintendent toggle on the Principal and Project Manager tabs defines the Superintendent for the Contract.
Key Dates: On a contract, the Date Approved and the Contract Completion Date. The completion date is needed for time extensions on change orders.
Contract Terms: On a contract, the Payment Terms (payment clause, GST % and, for Australian contracts, the Security of Payment Act jurisdiction), Retention Terms and Change Order Terms. They appear on your payment and change order letters.
Contract Overview: A page that shows a contract's key information, dates and financial summary in one place, with its own Documents tab and audit log.
Line Item: Specific payment milestones or line items within a contract.
Status: The current state of a contract line item.
Change Orders
Category: Classification or type of change order being addressed. This makes it easier to manage and track different types of change orders throughout the project.
Status: Current stage of a change order in the review process: Draft, Forecast, Pending, In Principle, Approved, Rejected or Withdrawn. Forecast and Pending are uncommitted. In Principle and Approved are committed costs and can be paid against. Draft, Rejected and Withdrawn aren't included in financial reports.
Requested Amount/Days Claimed: The amount and extra time requested in a change order, representing additional costs or extra time needed due to project changes or issues.
Change Order Amount/Days Approved: The amount and extra time officially approved after reviewing a change order, reflecting the final change to the contract's budget or schedule.
Change Approval PDF: Official PDF document confirming the approval of a change order, detailing the approved amount or EOT and any related comments or conditions.
Change Recommendation PDF: A letter that recommends a change order, often shared with clients, owners or stakeholders to seek their consent. It uses the Recommendation text from the change order's Description tab.
Change Order PDF: A PDF change order. Like the Change Approval PDF, it uses the Approval text from the change order's Description tab.
Extension of Time (EOT): Additional time granted to complete project activities due to approved change orders or unforeseen circumstances.
Date Received: The date a change order was received.
Time Impact: The tab on a change order where you record the days claimed, the days approved and the revised completion date. Time extensions are calculated using weekdays only.
Change Order Overview: A page that gives a consolidated view of your change order details at a glance.
Forecasts
Type: Option to choose the category of anticipated cost: Uncommitted Cost, Client Contingency or Project Contingency. Each type serves a different function in managing project costs and risks.
Status: Open forecasts count towards your financial reports. Draft and Closed forecasts don't. Close forecasts rather than deleting them, to keep the historical record.
Risk (in the Forecast register): Risks sent to the Cost Module appear in the Forecast register with a yellow R icon. You can edit them there, or from the Overall page.
Likelihood: The probability or chance that a particular forecasted cost will actually occur.
Starting Amount: The initial cost estimate entered for a forecast, serving as the baseline figure for anticipated expenses.
Current Amount: Where you can revise the cost estimate for an item or activity, reflecting updates from the original Starting Amount due to changes.
Baseline: The original approved plan for project scope, schedule, and cost, used as a reference point for measuring performance.
Payments
Month Payment Period From/To: You can specify precise dates for the payment period if it does not align with the first and last days of the month.
Month Paid: This is where the payment will appear in Cash Flow module.
Date Received: When the payment claim or invoice arrived.
Date Payment Due: When the payment must be made.
Status: Shows the approval level of a contract or payment.
Payment Statement/Claim No.: Unique identifier assigned to each payment request or claim within projects. It helps track and manage payments through various stages of approval and settlement.
Payment Certificate: Official document certifying that work has been completed and payment is due.
Payment Schedule: One of the payment letters you can generate from a payment. It shares its layout with the Payment Certificate.
Payment Recommendation: One of the payment letters you can generate from a payment. It shares its layout with the Payment Certificate.
Final Payment Certificate: The Payment Certificate with the word Final at the start of its title.
Payment Report: A downloadable PDF of the values in a payment. It's for information and isn't a legal document.
Submitted Amounts: Column that can be added for discrepancies from the approved amount.
Reimbursable: If toggle is on, only Reimbursable Contracts will appear. Without selecting this option, only Direct Contracts will be displayed in the Add Contract selection.
Comments: Can be used when leaving notes if there is variance or difference between submitted and approved amounts.
Retainage: Money held back from a payment. On a payment, turn on the Retention toggle to enter a Retainage % for each line item, and see Retainage this Period and Total Retainage.
Payment Grouping: Method of organizing related payments together for easier management and reporting.
Difference Report: A page you can add to payment letters, listing the line items where the submitted and approved amounts differ, with the reason for each. Turn it on for the whole workspace in Workspace Details, or for a single project in Project Settings under Brand.
Cash Flow
Range: This section allows you to select the specific time period for displaying and analyzing the data.
Cumulative: If this option is selected, the cash flow chart and corresponding data table show the total amounts accumulated from the Start of Project or the Start of Range, as you choose, up to each subsequent period.
Close off / Re-open: Close off locks a month so it shows only payments with a Paid status as actual cash flow. No changes can be made to a closed month's cash flow, no new payments can be added to it, and payments can't be moved out of it. Only administrators can Re-open a closed month.
Budget Cash Flow Entry: A setting in Cash Flow Settings that lets you forecast cash flow at budget level.
Contract Cash Flow: Allows you to track and manage the financial aspect and monitor the expenses, control costs, identify variances, analyze financial performance, and make informed decisions for project success within budget constraints.
Budget Cash Flow: Enables you to effectively track and manage the financial aspects of a contract by providing a detailed overview of the funds coming in and going out throughout the project's duration.
Target/Baseline: Allows you to establish financial goals and benchmarks for the project, with the target representing the desired outcome and the baseline serving as a reference point for comparing actual performance against projections.
Schedule: You have the option to show the schedule within the cash flow view.
Cumulative Overlay: Helps you visually track financial data evolution over time, aiding in trend analysis and informed decision-making.
Decimal Places: This setting allows you to control the precision of numbers displayed in reports, charts, and data tables.
Denomination: Choose your desired unit of currency that will be used for reporting financial figures. Within Mastt, you can set the denomination to either Millions, Billions, or Thousands.
Create Report: Create a cash flow dashboard that can be easily used for presentations and can also be saved as a PDF for easy sharing and printing.
Dashboard Module
Dashboard: Customizable visual interface displaying key project information through various tiles and reports.
Template: Pre-configured dashboard layouts that can be applied to multiple projects for consistency. Templates are kept in the Template Library, where they can be Draft or Published.
New Dashboard: Starts a new dashboard. Choose a Template, the AI Creator or a Blank Canvas.
Blank Canvas: Lets you build a dashboard from scratch, tile by tile.
Readiness Indicator: Shows in the top right corner of a dashboard. It reads Data Complete when your dashboard has all the information it needs, and Needs Data when information is missing.
Tiles
Tile Settings: Allows you to customize the tiles to display project information, adjust layout, size, and content to highlight key data points, empowering you to create personalized dashboards for effective communication and decision-making.
Health Tile: Dashboard component that provides visual indicators of project health using colors and metrics.
KPI tile: Dashboard tile that displays key project metrics in large, prominent numbers for quick reference.
Metric Tile: Dashboard component showing specific project measurements and KPIs.
Edit Text: Allows you to customize the text on a specific tile. You can adjust the text fonts, add links, and even create tables to enhance the content of the tile.
View Options
Print Preview: Have full control over the layout of the page and effectively organize the tiles displayed on each page and preview how the page will look when downloaded or printed.
Presentation: Can be used while presenting without changing or moving the tiles set up.
Drag & Resize: Allows you to easily reposition and adjust the size of tiles on the dashboard.
Settings: Allows you to modify page settings such as adjusting print orientation, toggling the display of footer dates, and choosing whether to show or hide last updated dates.
Print Orientation: The layout in which the dashboard or page will be printed, whether it is in portrait or landscape mode.
Hide Footer Date: Allows you to toggle the display of the footer date on the dashboard or page.
Hide Last Updated Dates: Allows you to choose whether to display or hide the last updated dates on the dashboard or page.
Downloads
Download PDF: In the Share menu. Allows you to save and export your customized project dashboard as a PDF for sharing and offline viewing.
Share Link: In the Share menu. Creates a link so you can share your dashboard.
Download Tile: Allows you to download individual tiles from the dashboard for offline viewing or sharing purposes.
Autosave and Version History: Your dashboard saves automatically as you work, so there's no Save button. The Version History icon next to the Share menu lets you restore earlier versions.
Risk Module
Risk Register: Comprehensive list of identified project risks with their assessments and treatment plans.
Risk Matrix: Visual representation showing risks plotted by likelihood and impact to prioritize attention.
Chart Options
Matrix: Helps user identify high-priority risks for immediate attention, resource allocation, and decision-making to manage threats.
Totals: Project's total number of risks per category providing structured approach to understanding and managing risks.
Provision: The total number of risk provisions per category helps you track and manage the set-aside resources designated to cover potential losses.
Cost: Allows you to track the number of potential cost risks per category for financial management and risk mitigation.
Delay: Allows you to track the total number of days of potential risk delay per category for project schedule management.
Download Excel: Button in the Risk module that downloads the standard Risk Register as a formatted Excel document. The Export button gives a CSV file instead.
Risk Details
Risk Reference: A reference key showing the rating you get for each combination of likelihood and impact, from Very Low to Very High. You can open it before you've added any risks.
Impact Reference: Your guide to evaluate how significantly a risk could affect the project if it were to occur.
None: Hides the charts and matrix so you can focus on the risk table.
Status: The current state or progress of a risk. Options include Active, Draft, Realized or Retired. Setting a risk to Retired fills in its Retired Date automatically.
Retired Date: An optional date on a risk. It fills in with the current date when the risk's status is set to Retired, and clears if the status changes back.
Key Risk: This designation is used to easily identify risks that have the potential to significantly impact the success of a project.
Category: Identifying potential risks related to specific aspects of a project, such as schedule, cost, scope, or quality.
Cause: Allows you to manage the root factor that initiates or plays a role in the emergence of a risk event.
Impacts & Treatments
Likelihood: Rating of the probability of a risk event occurring during a project: Rare, Unlikely, Possible, Likely or Almost Certain.
Impact: The extent or severity of the consequences a risk event would have on a project if it were to occur: Insignificant, Minor, Moderate, Major or Severe.
Cost: The allocated sum for a particular risk.
Delay: Duration of delay resulting from a specific risk.
Treatment: An action you take to reduce a risk's impact. Each treatment has a title, status, description and a person responsible. After treatment, you rate the risk again.
Cost Module Integration: Integration of the risks into the cost module. Risks sent to the Cost Module appear in the Forecast register, where they can be edited.
Factor (%): Additional weighting percentage used to further assess the Post-Treatment cost. This adjusted value will be added to the Cost Module within the selected Budget. It's available once the post-treatment total impact cost isn't zero.
Schedule Module
Milestone: A significant event that indicates a major stage in your project.
Key Milestone: Significant event or a critical point in your project timeline that marks the completion of a major phase or task.
Phase: Specific stage or period within your overall project timeline that focuses on planning, detailing, and managing the schedule of activities.
Dates
Start Date: The date when a milestone begins.
Baseline Date/Baseline Completion: The original planned date for a specific milestone in a project.
Planned Date/Forecast Completion: The current projected date for when a milestone is expected to be completed.
Actual Date/Actual Completion: The date when a specific activity or milestone is actually completed.
Status & Performance
Status - Not Started: Milestones that have not yet commenced.
Status - In Progress: Work milestone in progress.
Status - Completed: The date when the milestone is fully completed.
X% Completed: Allows you to monitor the progress of completion on your project milestone.
Activity Slip: Measurement of schedule delays compared to the baseline plan.
Activity Gain: Measurement of schedule improvements compared to the baseline plan.
Schedule Performance: Overall assessment of how actual progress compares to planned schedule.
Start/End: To track the schedule phase. Activating the start and end buttons initiates the tracking of project phases on the dashboard reporting tile.
Template: You have the option to create a structured framework for organizing and planning milestones, defining phases, and highlighting key events within specific timeframes.
Snapshot Module
Snapshot: Point-in-time capture of project data for historical reporting and comparison purposes.
Snapshot Title: The title you chose for the data snapshot that has been created.
Current as of Date: This is the last day of the reporting period.
Program Snapshot: A snapshot of a program. It also creates a snapshot of each project in the program, including archived projects.
Construction Industry Terms
Cost Estimator: Professional responsible for cost estimation and financial management of construction projects.
General Contractor: Primary contractor responsible for overall project delivery.
Owner: The client or owner of the construction project.
Project Manager: Professional responsible for managing contract compliance and administration.
Change Order: Change to the original contract scope, schedule, or cost.
Bid: Process of submitting proposals for construction work.
Project Superintendent: Professional responsible for day-to-day site operations and coordination.
Need help?
Contact Mastt Support for additional assistance.