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How to capture hours for Fixed Priced Projects

Question asked by Rajiv_Damodaran on Jun 30, 2009
Latest reply on Jul 9, 2009 by Jim_Fuhring
I need to know what is the best way to handle this..Our company, apart from working on multiple  projects is outsourcing few projects to other companies.They want to capture these project details with the total contracted hours, rather than the individual hours put by the resources to complete this project (which could be more or less).So what  is the best way to capture this information,  so that  it complies  all auditors requirements  and the information can be reported on reports.    ThanksRajiv Damodaran