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Custom Fields to artifically Cap Cost RRS feed

  • Question

  • Hi all,

       The issue is that my company would like to Cap costs within Project.  I can do this artifically within Reports, but would like to reports to match the MS Field.

    So basically I need to have a field that calculates the core hours based on 'Base Calendar' - which seems the easy part.  But then I would like to be able to implement a formula similar to below

    If[actual hours]>[core hours],[core hours] * [std rate] ,[actual hours]*[std rate]

    Appreciating this is a simplistic view.  Core Hours represents the field used to calculate the hours from 'Base Calendar'.

    The issue I foresee is that this needs to be a task level calculation, but 'core hours' would be calculated at the Resource level..

    Any assistance would be much appreciated...

    Thanks,

    -CL 

    Monday, February 1, 2016 8:34 AM

All replies

  • Doing this with actual hours implies that you are resource loading your projects with the correct assignment values of work, and that you are tracking those assignments correctly.  If you have costs associated with resources also then the actual cost and planned cost of each assignment is already calculated for you.  If you go one stage further and take a baseline, then you also have the variance for each task too.  Using all of these figures should give you something similar to what you want, but without the need for complex calculations.

    Ben Howard [MVP] | web | blog | book | P2O

    Monday, February 1, 2016 8:56 AM
    Moderator
  • Slightly different context I believe Ben.

    Basically we have a concept of 'Day Rate'. Which would calculate as 7xhourly rate.  However we have resource who record additional hours, which then busts the day rate - for instance as 8xhourly.  

    I believe the solution in longer term is to educate resources to only input their core hours in the timesheet as 'Actual work' and any additional as 'overtime'.  However that is not practical at this time due to certain internal political matters.   Hence I was coming to the 'capping' thought.  Capping cost, but not effort.

    Hope that makes sense?

    -CL. 

    Monday, February 1, 2016 9:06 AM