Analyzing Project Costs

Financial Management capabilities provide useful interfaces for visualizing project cost data. The primary visualization tools are discussed in the following sections.

Project Cumulative Cost Metrics

To view the Analyze Cumulative Cost Metrics page for a project, do one of the following:

  • In the menu bar, select Open > Financial Management > Analyze Costs > Project Cumulative Cost Metrics and select a project using the filter criteria.

  • If the project is open and has been baselined, on the Project Summary tab, in the EV Summary section, click Analyze.

Figure 5-2. Analyze Cumulative Cost Metrics page

The Analyze Cumulative Cost Metrics page can be filtered according to the criteria described in Table 5-2. Analyze Cumulative Cost Metrics page parameters.

Table 5-2. Analyze Cumulative Cost Metrics page parameters

Field Name

Description

Project

Project to be analyzed.

Summary Task

Summary tasks to be analyzed.

Period

Period to be used in the graph's time axis. Possible values: Fiscal Week, Fiscal Month, or Fiscal Year.

From Date

Date at which to start the graph.

To Date

Date at which to end the graph.

Include in graph:

Planned Value (PV)

Graphs the portion of the Baseline Cost planned to be spent between the project's start date and each data point.

Earned Value (EV)

Graphs the portion of the Baseline Cost for the entire project that has theoretically been spent by each data point. See Table 5-1. Cost data items and associated formulas for the applicable formula.

Actual Costs (AC)

Graphs the total dollar cost (Actual Labor Cost + Actual Non-Labor Cost) for the project.

Financial Summary Forecast

Graphs the financial summary forecast values for the project at each data point.

Financial Summary Actuals

Graphs the financial summary actual values, if any have been entered, at each data point.

Use the Analyze Cumulative Cost Metrics page to evaluate a project's performance in terms of different cost variables over time. Project Management calculates the Projected Actual Cost field for the project as baseline cost / CPI, and the value is displayed above the graph.

The Pending Cost EV Update Service must be enabled for the data in the Analyze Cumulative Cost Metrics page to be made current and kept current. Administrators who have the Sys Admin: Edit Services Schedules access grant can modify services.

To modify a service:

  1. From the menu bar in the standard interface, select Open > Administration > Schedule Services.

  2. Click on the row for the service you want to modify.

  3. Edit the Status (Enabled or Disabled), Schedule Type, and Schedule as needed. See the online help for more information about the Schedule Type.

  4. Click Save.

Project Current Cost Metrics

To view the Analyze Current Cost Metrics page for projects, in the menu bar, select Open > Financial Management > Analyze Costs > Project Current Cost Metrics.

Figure 5-3. Analyze Current Cost Metrics page

The Analyze Current Cost Metrics page can be filtered according to the criteria described in Table 5-3. Analyze Current Cost Metrics page parameters.

Table 5-3. Analyze Current Cost Metrics page parameters

Field Name

Description

Projects

Projects

Projects to be included on the page

Summary Tasks

Project

Project to be included on the page

Summary Task

Summary task within the project you specified

Other Criteria

Project Manager

Project managers whose projects are to be included

Program

Programs from which projects are to be included

Work Plan Status

Projects with work plans having the statuses you specify

Actual Costs exceed Earned Value by

Projects with a cost variance greater than the amount you specify

Planned Value exceeds Earned Value by

Projects with a schedule variance greater than the amount you specify

CPI Less Than

Projects with a CPI less than the value you specify

SPI Less Than

Projects with an SPI less than the value you specify

Forecast Cost Greater Than

Projects with a forecast cost greater than the amount you specify

Baseline Costs Greater Than

Projects with baseline costs greater than the amount you specify

Budget Actuals Greater Than

Projects with actual costs (from the financial summaries) greater than the amount you specify

Include Level 1 and Level 2 Summary Tasks?

Option to include summary tasks of level 1 or 2 within the work plan hierarchy

Size of bubble indicates

Forecast from Financial Summary

Option for bubbles representing projects to vary in size based on the size of their associated forecasts from the financial summary

Actual Costs from Financial Summary

Option for bubbles representing projects to vary in size based on the size of their actual costs from the financial summary, if any have been entered

Work plan baseline costs

Option for bubbles representing projects to vary in size based on the size of their last work plan baseline costs

Projected Actual Cost at Completion

Option for bubbles representing projects to vary in size based on the size of their projected actual cost (baseline cost / CPI) at completion

Use the Analyze Current Cost Metrics page to compare the sizes and cost health of one or more projects.

This page is also available as the Project Current Cost Metrics portlet.

Viewing the Earned Value Analysis for a Project

Use the Earned Value work plan view to view earned value (EV) analysis data for the project work plan. Table 5-4. Earned Value view fields defines the fields on this tab.

Note: All fields within the Earned Value work plan view are read-only and cannot be edited.

Table 5-4. Earned Value view fields

Field Name

Description

Seq

Number of a task in the hierarchy.

Cost Health

Cost health based on Cost Summary Condition settings.

Name

Name of a task.

Planned Value

Portion of the Baseline Cost, in the latest Baseline of the work plan, that is planned to be spent on the project or task between the start and status dates.

Earned Value

Portion of the Baseline Cost planned for the entire project or task that should have been spent for the percentage of work completed. See Table 5-1. Cost data items and associated formulas for the applicable formula.

Cost Variance

Difference between the earned value and the actual cost for the project or task. This value is calculated by subtracting Actual Cost from Earned Value (CV = EV – AC). Earned value compared with the actual cost incurred for the work performed provides an objective measure of planned and actual cost. Any difference is called a cost variance.

Schedule Variance

Difference between the earned value and the planned value of the project or task. This value is calculated by subtracting Planned Value from Earned Value (SV = EV – PV). Planned value compared with earned value measures the dollar volume of work planned against the equivalent dollar volume of work accomplished. Any difference is called a schedule variance.

CPI

Cost Performance Index. Cost efficiency ratio of Earned Value to Actual Cost. Used to predict the magnitude of possible cost overrun. The value is calculated by dividing Earned Value by Actual Cost (CPI = EV / AC).

SPI

Schedule Performance Index. Schedule efficiency ratio of Earned Value accomplished against Planned Value. Describes what portion of the planned schedule was actually accomplished. This value is calculated by dividing Earned Value by Planned Value (SPI = EV / PV).

Actual Cost

Total dollar cost incurred in completing a task or project during a given time period.