In the upcoming AX 2012 R3 release, we are making a few improvements to the project contract list page, as shown below.
The first thing you will notice is the legal entity filter on the right side of the list. This is similar to the filter that we added to the projects list page in the R2 release. This means that the project contracts list page has been made a cross-company query. This means that you can track the status of your contracts in all the companies you have access to. Unfortunately, you still have to switch companies in order to create a new project contract but once it is created, you can create projects and invoice proposals without having to change company contexts. You will either get a flat list of legal entities or a hierarchical list based on the organization hierarchy assigned the "project management" purpose in the organization administration module.
Next, you will see the filter on the left that lets you switch between "active" project contracts and all project contracts. Active contracts are defined as contracts with at least one non-closed project, helping you to determine which contracts need to be invoiced.
Finally, you will see that the preview pane at the bottom of the form now shows any billing rules associated with the selected contract. In R2, it showed the associated projects, which were already displayed in one of the factboxes on the right. Although billing rules are not required on a project contract, they are very valuable to see as they will drive the invoice creation process.