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Remaining cost for cost resources RRS feed

  • Question

  • Using Project Server 2007, I am having trouble keeping track of remaining costs using cost resources.  I would have expected remaining cost to calculate the same as it does for work resources.  For example task1 has no work but is assigned a cost resource.  $35,000 is entered as remaining cost for the cost resource on task1.  later, $5000 of actual cost is entered for a particular day (using the timephased grid in a usage view) for the cost resource on task1.  I would have expected remaining cost for task one to decrease to $30,000.  Instead it changes to $0.

    If I change the assignment finish date to a later date, remaining cost decreases but not by the amount entered for actual (it comes out to be 22,000 something).  I am not understanding how it is calulated, what am i missing here?

    Wednesday, May 23, 2012 2:06 PM

Answers

  • Hello,

    A reason for your "Remaining Cost" coming down to 0 could be :you would have kept it as 1 day task; then you assigned it a cost of 35000$ in Resource Usage, later you would have added 5000$ in Actual Cost in timephased view. So based on the logic it made the Remaining Cost as 0$ updating Actual Cost and Total Cost as 5000$ as the task was marked completed being 1 d. So to handle such situation you need to define the duration for that task no-matter even if the Work is 0hrs.

    Assume that you have a "Training" as the Cost Resource, which would cost you 30,000$ and it is supposed to happen for 10 days.

    Now you can update it either by adding % Complete - which will automatically calculate your AC & Remaining Cost. OR if you want to show some variances in cost you can add on daily basis in time-phased view. Say 30,000/10 means 3000$/d, but on day1 and day2 it just amounted you 2000$ and 1500$ respectively. So, now project will adjust your Total Cost as 2000 + 1500 + 8d X 3000/d = 27500$; Remaining as 24000$ and Actual as 3500$ as on beginning of day 3. Hope this clarifies the algorithm.


    Sapna S

    • Marked as answer by JennPenn07 Thursday, May 24, 2012 2:36 PM
    Thursday, May 24, 2012 7:21 AM
    Moderator

All replies

  • Hello,

    A reason for your "Remaining Cost" coming down to 0 could be :you would have kept it as 1 day task; then you assigned it a cost of 35000$ in Resource Usage, later you would have added 5000$ in Actual Cost in timephased view. So based on the logic it made the Remaining Cost as 0$ updating Actual Cost and Total Cost as 5000$ as the task was marked completed being 1 d. So to handle such situation you need to define the duration for that task no-matter even if the Work is 0hrs.

    Assume that you have a "Training" as the Cost Resource, which would cost you 30,000$ and it is supposed to happen for 10 days.

    Now you can update it either by adding % Complete - which will automatically calculate your AC & Remaining Cost. OR if you want to show some variances in cost you can add on daily basis in time-phased view. Say 30,000/10 means 3000$/d, but on day1 and day2 it just amounted you 2000$ and 1500$ respectively. So, now project will adjust your Total Cost as 2000 + 1500 + 8d X 3000/d = 27500$; Remaining as 24000$ and Actual as 3500$ as on beginning of day 3. Hope this clarifies the algorithm.


    Sapna S

    • Marked as answer by JennPenn07 Thursday, May 24, 2012 2:36 PM
    Thursday, May 24, 2012 7:21 AM
    Moderator
  • Thank you for your explaination.  I believe I understand now.  :)
    Thursday, May 24, 2012 2:36 PM
  • You are most Welcome for the Feedback.

    Sapna S

    Friday, May 25, 2012 12:21 PM
    Moderator