Viewing Project Cost

PPM provides multiple visualizations for project managers to view project cost. These visualizations focus on different areas. You can choose from them depending on what you would like to know.

Viewing Projected Cost, Actual Cost, and Budget from Project Header

The header of the project overview page provides a quick access to projected cost, actual cost, and budget.

Projected Cost and Actual Cost are derived from the project financial summary, only calculating the data that occur during the project plan period.

  • When Projected Cost > Actual Cost, Actual Cost is displayed in dark green and Projected Cost is displayed in light green.
  • When Projected Cost < Actual Cost, Actual Cost is displayed in red and Projected Cost is displayed in pink.
  • When Actual Cost > 0 and budget = 0, a yellow triangle with an exclamation mark is displayed.

Viewing Project Financial Summary Data and Work Plan Data from Project Cost Portlet

You can add and view the Project Cost portlet in the Project Overview page or in your personal dashboard page.

Cost

Description

Financial Summary
Projected Cost

Total cost required to complete the project. It is estimated based on the current progress.

Projected Cost = the cost of each previous month + the cost of the current month + the cost of each future month.

By default:

  • The cost of each previous month equals to the actual cost when actual cost is not blank or zero, otherwise, it equals to the forecast cost;
  • The cost of the current month equals to the higher of the actual cost and the forecast cost;
  • The cost of each future month equals to the forecast cost.

However, if the PROJECTED_COST_ FORMULA_TYPE parameter is set to absolute, PPM calculates projected cost differently.

  • The cost of each previous month equals to the actual cost;
  • The cost of the current month and of each future month equals to the forecast cost.

Total Forecast

Project's total forecast (planned) cost from the project's planned start period to the planned end period

If the project is set to roll up forecast labor cost from the project's staffing profile, Total Forecast = Forecast cost that is manually entered in the financial summary + Forecast labor cost that is rolled up from the staffing profile; otherwise, it only includes the manually entered forecast cost.

Forecast To End Of Current Month

Project's total forecast (planned) cost from the planned start period to the end of the current month (or to the planned end period, whichever comes first)

Actual Total

Project's total actual cost from the project's planned start period to the planned end period

If the project is set to roll up actual labor and non-labor cost from the project's work plan and time sheets, Actual Total = Actual cost that is manually entered in the financial summary + Actual labor and non-labor cost that is rolled up from the work plan and time sheets; otherwise, it only includes the manually entered actual cost.

Work Plan

This section is visible only when Financial Management for work plan is enabled.

Total Baseline

Total planned cost of the active work plan baseline

Total Baseline = Baseline planned labor cost + Baseline planned non-labor cost

Baseline to Date Total planned cost of the active work plan baseline from the baseline's planned start date to the current date
Total Planned Cost Total planned cost of all work plan tasks
Planned to Date Total planned cost of all work plan tasks from the work plan's planned start date to the current date
Actual Total Total actual cost of all work plan tasks

Cost Details

Clicking Cost Details in the Project Cost portlet, you will see the above total cost is separated by expense type (capital and operating) and cost type (labor and non-labor).

View Financial Summary

Clicking View Financial Summary in the project Cost portlet, you will open the project financial summary. From the financial summary, you can:

  • View forecast and actual labor cost and non-labor cost displayed by period.
  • Manually enter forecast and actual labor cost and non-labor cost, if the project is set to allow manual adjustment on the actual labor and non-labor cost.

Viewing Project Cost from Cost Tab

The Project Overview page > Cost tab includes four different views to display project related cost.